Weiyang, a China-based pig farming business operated by internet company NetEase, has raised $23m in a series A round co-led by on-demand services platform Meituan-Dianping and e-commerce company JD.com, according to China Money Network.
Venture capital firm Sinovation Ventures also co-led the round, which included Fengyun Capital and Zhejiang Silicon Paradise Asset Management.
Established in 2009, Weiyang produces upmarket black pork, a high-grade meat that can fetch up to $40,000 for one pig.
The company raises pigs through a 300-day slow growth plan, where the animals are fed natural food instead of industrially produced feed, monitored 24/7 and kept entertained with features such as music.
The series A funding follows a $1m crowdfunding campaign in March 2017 and will support Weityang’s business expansion.
Another of NetEase’s subsidiaries, music streaming services provider NetEase Cloud Music, raised $109m in a series A round led by media conglomerate Shanghai Media Group last month.