For fresh fruit and vegetable marketing and distribution in Asia
Liam O’Callaghan

BY LIAM O’CALLAGHAN

More funding for Wangjiahuan

Chinese farm to business platform receives second round funding from tech giant Meituan Dianping

More funding for Wangjiahuan

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Shenzhen-based agricultural product distributor Wangjiahuan has secured US$86m in a second round of funding led by Meituan Dianping.

According to a report from Technode, Chinese technology giant Meituani plans to expand into the food supply chain with this investment.

Wangjiahuan was founded in 1995 as a traditional food supply business but recently shifted to a technology-focused approach adding services such as group buying and selling.

It purchases fresh produce directly from growers and then sells to a wide range of customers including hotels, restaurants, and other hospitality business in addition to servicing canteens in hospitals, schools, and factories.

Meituan's investment in farm-to-business company aligns well with its core food delivery service and the company sees it an opportunity for growth.

"The non-commercial food supply chain is one of the few sectors that characterise market scale, growth potential, and profitability," a Meituan spokeswoman told Technode.

The funding will reportedly be used for the implementation of a partnership system, construction of distribution centres, and an agriculture product traceability solution.

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