GLP-backed food cold-chain logistics platform Minima Technology on Thursday announced that it has secured an undisclosed amount in a Series A+ round from Japanese conglomerate Sumitomo Corporation’s investment arm Sumitomo Corporation Equity Asia Limited.
Shanghai Yuanfu Investment Management facilitated the transaction, the company said in a WeChat post.
Set up in 2015, Minima provides one-stop food distribution services for companies such as wholesalers and resellers. It streamlines efficiency while delivering food products primarily catering to segments such as restaurants, supermarkets, and communities.
Headquartered in Beijing, Minima has its R&D centre in Wuhan.
Minima is backed by a slew of investors including SH-listed Nanjing Inform Storage Equipment (Group), Innoangel Fund, and ZRC, among others. Back in 2016, GLP invested in the company in its angel round.
Sumitomo Corporation Equity Asia Limited, that focuses on investments in China and Southeast Asia, invests in sectors such as enterprise IT, big data, cybersecurity, AI, IoT, digital marketing, fintech and digital healthcare.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 30, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Marknum Technology||Beijing||14 million||B||Aurora Private Equity, GSR Ventures||Qingdao Wei’er Asset Management, Zhuhai Wei’er Capital||AI/Robotics|
|HGZ Medical||Beijing||14 million||B||SDIC||Lenovo Capital||Health Tech|
|Shanghai ZJW Microelectronics||Shanghai||14 million||A||CTC Capital||Zhangjiang Group, Zhangjiang Hi-Tech Park, Ningbo Qinliu Investments||Hardware|
|Naixuejiaoyu||Beijing||* 1.4 million||Angel||58 Venture Capital, Chuxin Capital||-||Ed Tech|
|Minima Technology||Beijing||-||A+||Sumitomo Corporation Equity Asia Limited||-||Logistics|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example.