Online fresh produce seller Benlai Life has closed $117m in funding, $30m of which came from kitchen appliance producer Joyoung in December 2015.
China-based online fruit and vegetable retailer Benlai Life has closed $117m in series C and series C+ funding from investors including kitchen appliance manufacturer Joyoung, China Money Network reported today.
Joyoung, which paid $30m for a 3.8% stake in Benlai Life in December 2015 through an unnamed subsidiary, was joined by China Urban Realty Association, ChinaEquity Group, CDH Investments and Integral Group.
Benlai Life, which is operated by holding company Kindler’s Information Technology, sells fresh produce to a Chinese customer base through a logistics chain that covers 22 major cities as well as warehouses in Beijing, Shanghai and Guangzhou.
The company received an eight-digit dollar amount from unnamed investors in 2015, after CDH Ventures, Banyan Capital and China Consumer Capital had supplied an undisclosed amount of series A funding.
Other Benlai backers include Dadi, Best Link Investment Holdings, Leap High, Future Bright Global, Green Shield Enterprises, Future Bright Global, Green Shield Enterprises and J&Z, according to a regulatory filing in December.
