Fruitday attracts investment from landlord

Chinese online fresh produce outlet Fruitday has completed a 100-million yuan (US$150,642) D+ round of financing.

In Zhangjiang Hi-Tech Park in Shanghai, and earlier on JD.com, the company says its investor this time is its landlord, the state-owned Shanghai Zhangjiang Hi-tech Park Development Company. It says the funds will be used to upgrade its supply chain and logistics infrastructure for storing, shipping and tracking its goods.

This follows an earlier round led by JD.com, Susquehanna International Group (SIG) and ClearVue Partners.

Founded in 2009, Fruitday expanded after building a nationwide cold-storage and logistics network that can deliver fresh produce to customers within two hours of being ordered online in major cities such as Beijing, Shenzhen and Shanghai.

The company completed series A and B rounds in 2013 and 2014 from SIG and ClearVue, and a C round last year from JD.com and others, raising more than $200 million altogether.

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