Fresh food e-tailer Fruitday lands 100m yuan in new funding
Latest round to be used to upgrade supply chain and logistics facilities to store, ship, and track its goods
Fruitday, one of China’s leading online fresh produce sellers, has completed a 100 million yuan D+ round of financing, in spite of a wave of failures by once-promising e-commerce start-ups in the sector.
The company — located in Zhangjiang Hi-tech Park in Shanghai and earlier back JD.com — said in a statement its investor this time round was its landlord, the state-owned Shanghai Zhangjiang Hi-tech Park Development Company.
It said the funds would be used to upgrade its supply chain and logistics facilities to store, ship, and track its goods.
The funding round follows a US$100 million series D round earlier this year, led by JD.com, Susquehanna International Group SIG, and ClearVue Partners.
Founded in 2009, Fruitday has expanded fast after building a nationwide cold storage and logistics network which can deliver fresh produce to customers within two hours of being ordered online in major cities such as Beijing, Shenzhen and Shanghai.
The company previously completed series A and B rounds in 2013 and 2014 from SIG and ClearVue, and a C round in 2015 from JD.com and others, in total raising more than US$200 million.