Chinese fresh produce social commerce site Fresh Buddy secures $100m

Boxes of fruits and vegetables sit at the Hunts Point Terminal Produce Market in the Bronx borough of New York, U.S., on Monday, Nov. 23, 2015. Photographer: John Taggart/Bloomberg

Fresh Buddy, a Chinese fresh produce social commerce platform, has raised $100 million in its Series B funding round led by Genesis Capital and backed by SIG China, DCM Ventures, and Vision Plus Capital, according to media reports.

The Beijing-based startup platform has been selling and delivering fresh vegetables and fruits since its inception early this year. But that business model, which has been followed by a number of e-commerce sites in China, is not enough for the company to stand out and rake in millions of investments from big-ticket investors.

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