DragonBall Capital, the new retail investment arm of Meituan Dianping, has led a RMB100m ($14.1m) series B round for China-based online food distributor Lehe Food, DealStreetAsia has reported.
Investment firm Guangzhou Hezhi Investment Management also participated in the round, having reportedly contributed to a round of similar size for the company in March this year.
Founded in 2006, Lehe runs an online platform that distributes fresh food and ingredients. It plans to channel the funding into improving its supply chain technology while expanding the number of its distribution centres to 300.
DealStreetAsia stated that the series B round is the company’s fourth, though it has not publicly disclosed all the details of its early financing.
