AAA Lehe Food tucks into $56m series C

Lehe Food tucks into $56m series C

China-based fresh food and ingredients distribution portal Lehe Food has closed a RMB400m ($56.4m) series C round co-led by DragonBall Capital, the corporate venturing fund of local services portal Meituan Dianping.

The round was also co-led by asset manager CDH Investments and was backed by investment firm Guangzhou Hezhi Investment Management.

Founded in 2006, Lehe Food runs a business-to-business portal providing fresh food and ingredients delivered from its 300 distribution centres.

The company has contracts with multiple state-owned organisations, and also offers food-related services such as catering, food processing and cold chain logistics.

Lehe Food is ramping up operations in the wake of the series C round to advance in five strategic areas: partnerships, headcount, supply chain, industrial integration and cold chain logistics.

DragonBall led a $14.1m series B round for Lehe Food that featured Guangzhou Hezhi in October 2019, after the latter had contributed to a round of similar size seven months previously.

Private equity firm New Value Capital is another of Lehe Food’s existing investors, according to DealStreetAsia, as are investment entities called Atopia Capital and Dalian Juntai.

Leave a comment

Your email address will not be published. Required fields are marked *