China-based alcoholic drinks seller Liquor Easy has secured RMB400m ($61m) in funding from diversified conglomerate Legend Holdings, China Money Network reported yesterday.
Founded in 2012, Liquor Easy operates physical shops in addition to an online store through which consumers can order alcoholic beverages and have them delivered within 20 minutes.
The service is currently available in five cities in China, and Liquor Easy will use the funding to expand into additional cities across the country.
Legend’s commitment is part of a wider strategy to invest in the domestic consumer market and follows investments in the food and agriculture sectors.
Liquor Easy previously raised tens of millions of renminbi (RMB10m = $1.5m) in series A capital from securities brokerage Everbright Securities last year, though further details have not been revealed.
– Photo courtesy of Wikimedia Commons (CC BY-SA)
