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.