Chinese online food retailer Womai.com has received new investment from private equity firm SAIF Partners.

Although the two companies did not disclose the amount of investment, a person with knowledge of the transaction says it is worth more than $10 million.

Established by COFCO Group in 2008, Womai.com competes with Yihaodian.com and sfbest.com.

Womai said the new funds will be used to enhance marketing and expand network. It says it aims to become China’s largest online food retailer.

SAIF Partners was founded in 2001 and currently manages over $3.5 billion in capital. With over 100 investments since its inception, SAIF has become one of the largest and most active funds in the region.