Fosun made its second investment in the fresh produce e-commerce platform, which has now raised more than $32m inside two years.
US-based online grocery seller GrubMarket has closed a $20m series B round featuring conglomerate Fosun, TechCrunch reported on Thursday.
The round also included Sound Ventures, Global Founders Capital, Riverhead Capital, GGV Capital, Danhua Capital and angel investors Fabrice Grinda and Gang Wang.
GrubMarket runs an e-commerce platform that sells fresh produce sourced from local farmers, fisheries, kitchens and small restaurants to a customer base that does not live near enough to those outlets to get the food directly.
Sellers can in turn establish an online store on GrubMarket’s platform to market their goods to consumers, and GrubMarket users also have the option to order a GrubBox that provides a selection of fresh, nutritious foods.
The round boosted GrubMarket’s overall funding to approximately $32m, after Fosun, GGV, Y Combinator, Battery Ventures and AME Cloud Ventures provided $10m in series A capital in September 2015.
GGV, Y Combinator, Gang Wang and New Gen Partners were among the participants in the startup’s $2.1m seed round in January 2015.