China-based agricultural product distributor Wangjiahuan has received RMB400m ($58.5m) in series A funding from logistics services provider Global Logistic Properties (GLP), China Money Network has reported.
Wangjiahuan runs an agricultural logistics service that sources, processes and distributes fresh produce. The company also oversees a catering services business and has a presence in about 60 Chinese cities.
GLP provided the money through a subsidiary called Hidden Hill Modern Logistics Private Equity Fund, and the capital will fund the development of a cloud-based data analysis platform and a blockchain-equipped system that will help maintain the quality of food.