<article>Beijing-based O2O logistics solutions provider Yummy Express has completed a $10 million Series C financing, led by China-focused private equity firm <a style="color: #000080;" href="http://www.cvpcap.com/" target="_blank">ClearVue Partners</a></article>

Beijing-based O2O logistics solutions provider Yummy Express has completed a $10 million Series C financing, led by China-focused private equity firm <a style="color: #000080;" href="http://www.cvpcap.com/" target="_blank">ClearVue Partners</a>
The financing, which is co-invested by venture capital firm, <a style="color: #000080;" href="http://english.sbcvc.com/index.html" target="_blank">SB China Venture Capital</a>, will help the company to hold its position as the leading player in its segment, a statement read.
ClearVue focuses on the fast growing and dynamic consumer sector in the Greater China region, primarily in the food and beverage, consumer lifestyle, and consumer internet/mobile sub-sectors. .
Established in 2012, Yummy Express focuses on meal delivery services for major takeout O2O platforms including China’s largest catering merchants such as <a style="color: #000080;" href="http://waimai.baidu.com/waimai?qt=find" target="_blank">Baidu Waimai</a>.
The company also offers traditional fast-moving consumer goods companies with internet-enabled logistics and operational services. Its “3km, 30 min” on-demand service also promises to retain heat of the meals.
Yummy Express co-founders Yu Yang, Yang Shuyi and Ba Zhen all come from logistics group <a style="color: #000080;" href="http://www.dhl.com/en.html" target="_blank">DHL </a>and Singapore-based supply chain solutions provider <a style="color: #000080;" href="http://www.ych.com/index.htm" target="_blank">YCH</a>, and have a wealth of experience in logistics and delivery in China.
“Leading takeout O2O platforms and large catering merchants require nationwide logistics service providers in order to provide good services at low cost, with minimal infrastructure investment and high efficiency. The market trend for Yummy Express is very positive,” the statement noted.
ClearVue Partners founding managing partner Henry Hui said: &#8220;We are entering a dynamic and transformational time in China’s O2O meal delivery sector and I can’t think of a better company to partner with. Yummy Express leads the ‘last mile’ white-collar food delivery segment in China and is growing both in team size and geographic coverage – daily.”
Yummy Express delivered over 5.6 million food orders in January 2016 alone, up from 330,000 deliveries in January 2015 while geographic coverage leapt from covering five cities in China in January 2015 to 18 cities in China in January 2016.
The service also delivers fresh foods such as cake and fresh fruit from companies such as <a style="color: #000080;" href="http://missfresh.cn/">missfresh.cn</a>, <a style="color: #000080;" href="http://1mxian.com/">1mxian.com</a> and <a style="color: #000080;" href="http://xuxian.com/">xuxian.com</a>.
The company currently has over 5,000 proprietary delivery staff with 200,000 daily orders being provided in China.
“What separates Yummy Express from the ‘crowdtasking’ competition is that Yummy Express has 5,000 well-trained proprietary ‘delivery men’ and can guarantee service quality,” Baidu Waimai vice president Chen Qing said.
“Our clients are mostly white-collar and have a relatively higher ticket order and Yummy Express’ high quality team is the best fit to handle our last mile deliveries in China” he added.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/vc-roundup-2-27578/" target="_blank">IFC considers $30m investment in Alibaba-backed Best Logistics</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-logistics-services-provider-rivigo-secures-30m-from-saif-partners-others-23976/" target="_blank">India: Logistics services provider Rivigo secures $30m from SAIF Partners, others</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-2015-list-of-startups-backed-by-flipkart-snapdeal-others-24655/" target="_blank">India 2015: Online biggies Flipkart, Snapdeal, Paytm &amp; Delhivery chase string of small acquisitions</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/31158-31158/" target="_blank">India: Food delivery startup Frsh.com shuts operations in Noida, Delhi</a>

China's Yummy Express seals $10m Series C led by ClearVue Partners

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

China's Yummy Express seals $10m Series C led by ClearVue Partners

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief