China-based food retailer Qdama closed a series D round featuring insurance firm Taikang Life yesterday that was sized at almost RMB1bn ($143m).
Private equity firm Co-Stone Capital led the round, which additionally featured Genbridge Capital, Jiangu Capital, Zhenghan Investment and Lighthouse Capital.
Qdama runs a network of community food stores, selling cooked food, frozen fish and fresh meat, fruit and vegetables. It opened its first store in Hong Kong in August 2018, expanding through South China and then into the East and Central parts of the country this year.
The company intends to put the series D funding into widening its product range, further developing its technology and expanding its online presence and warehouse capabilities.
The round was disclosed by Gaorong Capital, the venture capital firm that led Qdama’s series C round. Gaorong did not however reveal details of that round nor of the company’s earlier funding.
