China-based agricultural services provider Nongfenqi has closed a nine-figure renminbi series C round (RMB100m = $16m) that featured media conglomerate Bertelsmann, Kr Asia reported today.
Yi Capital led the round, which also featured existing backers including Innoven Capital, Yonghua Capital, Shunwei Capital, Source Code Capital and Zhen Fund. Bertelsmann contributed through corporate venturing unit Bertelsmann Asia Investments (BAI).
Nongfenqi enables farmers to purchase equipment, land and fertilisers in instalments, allowing them to acquire items they would not otherwise be able to…
