Tencent-backed online grocery firm Missfresh raises $307m from state-linked Chinese investors

Tencent-backed online grocery startup Missfresh has secured a strategic investment of 2 billion yuan ($306.6 million) from a consortium formed by government-linked investment groups, the firm announced on Wednesday.

Missfresh said that it inked an investment agreement with a consortium formed by Qingdao Guoxin Group, a state-owned investment firm controlled by the local government in eastern China’s port city of Qingdao; Sunshine Innovation Investment Centre, an investment initiative launched in May 2020 to attract venture capital investments in Chengyang District, located at Qingdao’s northern outskirts; and other government-guided funds.

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