Regional food supply chain enterprises Liancaiwang closes RMB155m Series B round

On June 29, Liancaiwang, the regional food ingredients supply chain enterprise, completed its Series B+ financing round led by Meicai, with participation from a state-owned fund of Henan Province. The size of the financing reached 155 million yuan.

On June 29, Liancaiwang, the regional food ingredients supply chain enterprise, completed its Series B+ financing round led by Meicai, with participation from a state-owned fund of Henan Province. The size of the financing reached 155 million yuan.

Through this financing, Meicai and Liancaiwang will reach in-depth strategic cooperation and business synergy. After completing the financing round, Liancaiwang will continue to operate as an independentbrand.

Founded in May 2015 in Zhengzhou, Liancaiwang has annual revenue of nearly one billion yuan in 2019 and it has maintained consistent profitability in the Zhengzhou market for more than two years.

Through the supply chain model of direct procurement from farms across the country, the company delivers a full range of food ingredients to branded chain restaurants, enterprises and government units.

Currently, the company’s average daily delivery service can reach nearly 6,000 clients, serving more than 70,000 catering enterprises and related institutions in Henan Province.

The company’s business covers Zhengzhou, Zhoukou, Anyang, Xinxiang, Luoyang, Xuchang and other cities in Henan Province, and entered the Xinjiang market last October.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/30/regional-food-supply-chain-enterprises-liancaiwang-closes-rmb155m-series-b-round/.

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