China: O2O major Meituan-Dianping joins $23m round in NetEase’s pig farm

China’s online-to-offline service provider Meituan-Dianping, along with Sinovation Ventures and e-commerce major JD.com, has led a $23 million investment in Weiyang, a pig farm business backed by internet tech firm NetEase Inc, the China Money Network reported.

Beijing-based Fengyun Capital and Zhejiang Silicon Paradise Asset Management Group also participated in the Series A round.

Weiyang is known for its 300-day slow pig raising plan, with a focus on natural food and proper sanitation. It has about 20,000 pigs on the 80-hectare farm and focuses on producing high-quality black pork.

NetEase founder William Ding is reportedly looking to establish a pork restaurant supplied by the pig farm. According to Forbes, Ding, who started his internet and gaming business in 2003, has a net worth of over $15.6 billion.

In March, Weiyang raised RMB 11 million ($1 million) via a crowdfunding campaign, making it the largest such deal in China’s agriculture sector.

Meituan-Dianping also received a strategic investment from retail conglomerate China Resources Holdings in 2016 to collaborate in the food delivery business.

Also Read:

NetEase Cloud Music joins unicorn club with $108m Shanghai Media-led round

O2O platform Meituan-Dianping gets funding from retail giant China Resources

China: Meituan-Dianping acquires third-party payment firm Qiandai

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.