LY.com's group buying grocery spinoff raised the money in a Joyy-led round also backed by existing investors including Bertelsmann Asia Investments and Legend Capital.
Social media platform Joyy led a $200m series C round for China-based online grocer Tongcheng Life today that included Bertelsmann Asia Investments (BAI), a vehicle for media group Bertelsmann.
The round also featured Legend Capital, the venture capital firm spun off by conglomerate Legend Holdings, in addition to Engage Capital, GSR Ventures, Oriza Holdings, Welight Capital and Tongcheng Capital, which may represent LY.com, the online travel agent also known as Tongcheng.
Incubated within LY, Tongcheng Life operates an online platform…
