Nokia Growth Partners Leads $10M Series B In Meican


Beijing-based online food ordering platform Meican has raised US$10 million series B financing led by Nokia Growth Partners, according to Chinese media reports.

Existing investor KPCB China also participated. The round was completed last year.

Meican, which means "delicious meal" in Chinese, says it will use the proceeds on recruitment, product improvement, as well as mining and matching the information of restaurants and users.

Deng Yuanjun, managing director of Nokia Growth Partners, will join Meican’s board of directors after the deal.

The company previously received several million RMB angel investment from Zhen Fund in 2011, and several million U.S. dollar series A funding from KPCB China in 2012.

Founded in 2011, Meican currently partners with about 30,000 restaurants to provide food ordering services online to China’s largest cities, including Beijing and Shanghai.

Last November, Shanghai-based online food ordering site Ele.me received US$25 million series C financing led by Sequoia Capital China.

Another online food ordering and delivery platform Etaoshi received nearly US$10 million of series A funding led by Highland Capital Partners in the same month.

Nokia Growth Partners is a venture capital fund under Nokia Group. It focuses on mobile technology and media sections and has US$600 million assets under management.

 

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