Chinese private equity firm Capital Today has led a US$30 million series B funding round in Urfresh, a seven-month-old fresh produce e-commerce start-up, according to Chinese media reports.
Chinese investment firm Fengshion Capital Partners also joined as lead investor.
Founded in August 2015, Urfresh received US$10 million series A round from Capital Today at the time of its establishment.
Capital Today is an early investor in JD.com Inc., a major competitor to Alibaba Group Holding Ltd.
The founders of Urfresh are two former executives at Yihaodian, a Chinese e-commerce platform acquired by Wal-Mart Stores, Inc. last summer.
Urfresh’s location-based services (LBS) allow users to order fresh produce and receive them in an hour.
