MSA Capital leads Series A round in T11 Food Market

T11 Food Market, a fresh supermarket brand on the main track of the new retail has received tens of millions of US dollars in Series A financing round, led exclusively by MSA Capital.
Earlier, the company had obtained 100 million US dollars in an angel round led by China Everbright and IDG Capital, with participation from Gome, iVision Ventures and Yisan Capital.

T11 Food Market, a fresh supermarket brand on the main track of the new retail has received tens of millions of US dollars in Series A financing round, led exclusively by MSA Capital.

Earlier, the company had obtained 100 million US dollars in an angel round led by China Everbright and IDG Capital, with participation from Gome, iVision Ventures and Yisan Capital.

T11 was founded at the end of 2018, mainly aimed at the consumption upgrade needs in China’s first-tier cities. With the globally sourced fresh food and general food business as the fulcrum, the company created a new online and offline integrated e-commerce network.

Du Yong, Founder and CEO of T11, said that proceeds from this round of financing will mainly be used for store network layout, strengthening supply chain and logistics development, and increasing strategic investment in retail technology.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/03/msa-capital-leads-series-a-round-in-t11-food-market/.

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