MissFresh, the China-based operator of an e-commerce operation focusing on fresh produce, has raised $100m in a series C round co-led by consumer electronics manufacturer Lenovo, China Money Network reported on Friday.
The corporate’s Lenovo Capital and Incubator Group subsidiary co-led the round with venture capital firm Zhejiang Zheshang Venture Capital, with contributions from internet company Tencent, KTB Investment & Securities, Grand Flight Investment and China Growth Capital.
MissFresh sells fresh food including fruit, vegetables, meat and fish that it sources from other countries, delivering the goods within two hours of an order being placed. It reportedly increased its gross revenue by 500% year on year in 2016.
The series C funding follows a $36m series B+ round in April 2016 backed by China Growth Capital and investment firm Yuanyi Capital.
MissFresh had reportedly raised $10m from Tencent and GX Capital before Tencent led its $31m series B round in late 2015, investing alongside Zheshang Venture Capital Management and undisclosed other participants.