Tongcheng Shenghuo merges with FamilyOne, secures multimillion-dollar Series C+ round

On July 31, renowned startups in the fresh produce e-commerce sector Tongcheng Shenghuo and FmailyOne have merged. In the meantime, existing investors Xiang He Capital, Bertelsmann Asia Investment, and Oriza Holdings injected tens of millions of US dollars in the Series C+ round after the merger.

On July 31, renowned startups in the fresh produce e-commerce sector Tongcheng Shenghuo and FmailyOne have merged.

In the meantime, existing investors Xiang He Capital, Bertelsmann Asia Investment, and Oriza Holdings injected tens of millions of US dollars in the Series C+ round after the merger.

Tongcheng Shenghuo was launched in August 2018 and has expanded rapidly to achieve scalable growth with profitability. The merge comes shortly after Tongcheng Shenghuo closed its USD 200 million Series C round.

After completing this round of financing, Tongcheng Shenghuo will continue to invest more in its supply chain to further enhance its fulfillment capabilities and expand its service radius.

Founded in October 2017, FamilyOne has secured investments from first-tier capitals such as Sequoia Capital, Source Code Capital, Gaorong Capital, Today Capital, Suning, Xiang He Capital, among others.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/06/tongcheng-shenghuo-merges-with-familyone-secures-multimillion-dollar-series-c-round/.

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