Womai.com, the food and beverage-commerce platform formed by state-backed firm COFCO, has closed a series C round co-led by Baidu and Taikang Life Insurance.
Womai.com, the China-based online grocery retailer launched by Chinese government-owned food producer COFCO, has closed a $200m series C round, China Money Network reported today.
The round was co-led by insurance firm Taikang Life Insurance Company and internet services provider Baidu, both of which plan to initiate strategic partnerships with Womai, according to local media reports.
Womai was founded in 2009 as a food and beverage e-commerce subsidiary of COFCO, China’s National Cereals, Oils and Foodstuffs Corporation. It sells local…
