Yummy Express, a China-based last-mile meal delivery service for online food ordering platforms, has closed a $10m series C round backed by telecommunications and internet group SoftBank.
The round was led by private equity fund ClearVue Partners led the round, while SoftBak invested through SBCVC, its Chinese corporate venturing subsidiary. Yummy Express has not disclosed information regarding earlier funding.
Founded in 2012, Yummy Express provides a “3km, 30 min” delivery service for domestic food ordering companies like Baidu Waimai, and also offers internet-enabled logistics and operational services to online food and produce retailers.
The company delivered more than 5.6 million food orders in January this year, compared to 330,000 in January 2015, growing its presence from five cities to 18 at the same time.
Yummy Express CEO Yu Yang said: “Yummy Express is the clear market leader in the catering [online-to-offline] logistics solution market and we are delighted to partner with ClearVue Partners and other investors as we continue to grow and retain our market leadership in China.”