Miss Fresh closes USD495m new financing round led by CICC

On July 23, Missfresh announced a new financing round of 495 million US dollars.
The round was led by a fund under China International Capital Corporation, with participation from investors including ICBC International Securities, Tencent, Abu Dhabi Capital Group, Tiger Global, and a fund managed by the government of Changshu County of Suzhou, and other institutions.

On July 23, Missfresh announced a new financing round of 495 million US dollars.

The round was led by a fund under China International Capital Corporation, with participation from investors including ICBC International Securities, Tencent, Abu Dhabi Capital Group, Tiger Global, and a fund managed by the government of Changshu County of Suzhou, and other institutions.

This round is also the largest funding round in the online fresh produce shopping sector to date.

Miss Fresh pioneered the “mini warehouse” fresh-to-home business model in 2015, and now provides the service of “3,000 kinds of high-quality fresh produce, 30-minute delivery” to tens of millions of households across 16 cities in China.

With long-term investments in upstream supply chain and smart chain core competencies, the company’s business scale exceeds 10 billion yuan and maintains healthy and profitable growth.

Wang Jun, Partner and CFO of Miss Fresh, said: “The funds raised in this round will be invested in the company’s intelligent chain technology and origin supply chain capability, which will drive the continuous evolution of the business model.”

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/25/miss-fresh-closes-usd495m-new-financing-round-led-by-cicc/.

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