China: Tiger Global, Genesis complete $230m Series C+ in MissFresh

Visual from MissFresh website.

By Tomas S. Noda III

September 20, 2017

Tencent Holdings-backed MissFresh,, a fresh produce e-commerce platform in China, has raised $230 million in a series C+ round co-led by US investment firm Tiger Global Management LLC, and China’s Genesis Capital, China Money Network reported.

The three-year-old startup has always guaranteed a two-hour delivery of fresh fruit, vegetable, meat, eggs, seafood, among others from US, Chile and Australia to Chinese consumers.

MissFresh plans to use the latest proceeds to deploy more freezers in more cities and residential areas around China, and to likewise invest $45 million (RMB300 million) to place 100,000 snack bars and freezers in office buildings in major cities.

Last January, Lenovo’s Lenovo Capital and Incubator Group co-led a $100 million series C round in MissFresh, just eight months later when China Growth Capital led a $36 million series B+ round in the startup in May 2016.

In 2015, Tencent backed MissFresh $31 million series B round. The startup received around $10 million in its series A funding from Tencent and GX Capital in 2014.

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Singapore Reporter/s

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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