Fresh Produce E-Commerce Unicorn MissFresh Raises $450 Million in Series D Funding

MissFresh, a fresh produce e-commerce platform, announced the conclusion of their Series D fundraising on September 6. The $450 million round is lead by Goldman Sachs Investment Partners (GSIP) and Tencent Holdings Ltd., followed by Tiger Global Management and 4 brand-new financiers.

MissFresh is an online-to-offline fresh fruit and vegetables platform founded in 2014. It presently runs in 20 cities in China, concentrating on one-hour shipments of all kinds of produces from vegetables and fruits to dairy and aquatic products.SEE ALSO: Missfresh Raises Largest Financing of$500M According to MissFresh CFO Wang Jun, the funds would be used in the advancement of the upstream supply chain, the cold chain logistics infrastructure, and clever retail innovations. Xu Zheng, creator and CEO of MissFresh, also stated in a declaration that the company plans to install 10,000 front-end warehouses in 100 cities around China, providing one-hour shipments of fresh produce to 100 million families.Wang associated the recommendation from global leading strategists and monetary financiers to the business’s ingenious service design that ensures quick growth, high operational efficiency and benefits from economies of scale.”MissFresh has a deep understanding of the fresh fruit and vegetables supply chain and retail market,” said Jeffery Li

, a partner at Tencent Financial investment Management.”As a Series An investor in MissFresh, Tencent will continue to work carefully with MissFresh to check out and promote innovative selling.”< img src= https://pandaily.com/wp-content/uploads/2018/09/MissFresh-1024x682.png

Inning accordance with Analysys’ on China’s fresh fruit and vegetables e-commerce market in 2018, the substance growth rate of the fresh fruit and vegetables e-commerce market will reach 49 percent in the next three years. It is likewise stated that its online market penetration rate will continue to rise and is expected to reach 21.7 percent by 2020.

Data from TrustData shows that Miss Fresh has controlled the fresh fruit and vegetables online business for 4 consecutive quarters, with a market share surpassing HALF in the very first half of 2018.