20200723-12 -- Chinese E-Grocer Missfresh Closes USD495 Million Funding, Sector’s Largest Ever

(Yicai Global) July 23 -- Fresh grocery firm Beijing Missfresh Ecommerce has wrapped up a new USD495 million funding round, led by a CICC Capital fund, in a bout of financing that is the largest ever in the fresh food sector. the Paper reported today.

Proceeds will be invested in the company's smart chain technology and go to reinforce supply chain capabilities and production, Missfresh said.

Other investors include ICBC International, Tencent Holdings, Abu Dhabi Capital Group, Tiger Global and other institutions. Missfresh is valued at over USD3 billion post-financing. Formed in 2014, it operates in 16 Chinese cities.

Editor: Ben Armour