Chinese e-commerce firm Nice Tuan raises $196m in fourth round this year

Chinese e-commerce firm Nice Tuan raises $196m in fourth round this year

Nice Tuan, a Chinese community e-commerce platform also known as Shihuituan, has raised $196 million in a Series C3 round in what is the firm’s fourth funding round this year as the COVID-19 pandemic has significantly accelerated consumer demand for online purchases of fresh produce.

The Series C3 round was jointly led by Chinese e-commerce giant Alibaba and Jeneration Capital, a Hong Kong-based investment firm best known for backing tech firms, according to a statement on Monday.

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