Retailing, Franchising, and Consumerism Business Intelligence in China

Missfresh Gained CNY2 Billion Strategic Investments In Qingdao

According to reports in Chinese local media, Qingdao Guoxin, Sunshine Venture Capital and Qingdao Fund of Venture Capital Funds have formed a joint investment body to invest CNY2 billion into Missfresh.

It is said that Missfresh will build a national ecological chain headquarters industrial park and an intelligent supply chain center in Chengyang District, Qingdao, and create an industrial cluster of upstream and downstream ecological chain companies.

At the same time, the company will align with Qingdao's urban development strategy and industrial layout, build smart city infrastructure with multiple formats in retail, guarantee food supplies for people's livelihood, and use data to drive agricultural finance.

Commenting on the investments, Xu Zheng, founder and CEO of Missfresh, said that Qingdao enjoyed superimposed national strategies and obvious industry advantages. Its agriculture and food industry are the vane of the modernization of the industries. Missfresh will actively integrate into the general trend of Qingdao's opening up and development, increase investment in Qingdao, deepen practical cooperation, and promote the upgrading of Qingdao's agriculture and food industry with its leading fresh food e-commerce business.

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