China’s largest fresh produce e-tailer by revenue, FruitDay, has raised US$70 million in a new round of fundraising led by JD.com, the Chinese online e-commerce site led by billionaire, Liu Qiangdong, and including funds committed by Susquehanna International Group and ClearVue.  Founded in 2009, FruitDay conducts more than 60% of its business outside of the Shanghai region.

This round marks the largest investment in China’s fresh produce e-commerce industry on record, and the second round led by a billionaire-backed company in a fresh food business in the month of May. Earlier in May, Hong Kong-listed Sun Art Retail bought a 54% stake in Fields, a Chinese online food supplier. Sun Art is backed by investors including Auchan Hyper of France, and Taiwanese billionaire, Samuel Yin.

Walmart and Amazon are also making headway into China’s online food sector through their respective subsidiaries, Yihaodian and www.yummy77.com.

 

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