Fruitday, a China-based online produce retailer backed by e-commerce company JD.com has raised $15m in a series D+ round led by Shanghai technology park Zhangjiang Hi-Tech Park, China Money Network reported yesterday.
The round included all of Fruitday’s existing investors, according to local media reports. Past funding has come from SIG Asia Investments, a subsidiary of technology and trading firm Susquehanna International Group, and private equity firm ClearVue Partners.
Fruitday runs an e-commerce platform that sells imported fresh fruit and vegetables, and is headquartered within Zhangjiang Hi-Tech Park. It had built up a customer base of four million across 300 Chinese cities as of May 2015.
The latest capital injection comes in the wake of reports it intends to shutter its offline stores in major cities in order to focus on its core business.
Reports earlier this year suggested JD had led a $100m series D round for Fruitday, but the funding was never confirmed. JD led the company’s $70m series C round in May 2015, investing together with SIG.
SIG had supplied Fruitday’s series A funding in 2011, investing an undisclosed amount, before combining with ClearVue to provide an undisclosed eight-figure dollar sum in early 2014.
– Image courtesy of Fruitday