Youpeiliangpin, the China-based supply chain and delivery service provider for agricultural products, has secured RMB120m ($18m) in a round co-led by chicken processing and copper smelting company GMK Holdings, China Money Network reported
GMK led the series A round together with Shanghai Yiguo Electron Business, while Yunqi Partners and iResearch Capital, the investors that provided RMB10m for the startup in July 2015, also took part. The latter is affiliated with data service provider iResearch.
Founded in March 2015, Youpeiliangpin supplies delivery services enabling farmers to bring their products to small and medium-sized restaurants.
The company will invest the funding in improving its technology and strengthening its supply chain network. It also plans to leverage logistics resources and contacts with agricultural producers which GMK and Yiguo will be able to offer.
– Photo courtesy of Youpeiliangpin