COFCO’s Womai.Com Completes $200M Series C Financing Round


Beijing-based Chinese online grocery store Womai.com, backed state-owned food conglomerate COFCO, has raised US$200 million series C financing led by Taikang Life Insurance Company Limited and Baidu Inc., according to Chinese media reports.

Representatives at COFCO did not immediately respond to an inquiry to confirm the news.

Taikang Life Insurance and Baidu are investing as strategic investors, and plan to begin strategic cooperation with Womai.com after the completion of the round.

Womai, which means "I buy" in Chinese, is founded in 2009 by COFCO as its B2C (business to consumer) food and beverage e-commerce platform.

The company received tens of millions U.S. dollar series A funding from SAIF Partners in 2013. In August 2014, it completed US$100 million series B financing led by IDG Capital.

COFCO remained as the largest shareholder of Womai.com after its series B round last August.

China Expert Network
 
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