(Yicai Global) Sept. 13 -- FreshMarket, which sells fresh produce online and delivers to local communites, has raised USD44.49 million (CNY290 million) in its C+ financing led by Tiantu Capital Co., Jiemian News reported.
FreshMarket, which has now accrued total funding of more than CNY760 million, boasts an innovative business model focused on providing consumers with a rigid supply of products meeting a niche market demand.
The firm allows customers to make orders by mobile phone and then pick up the goods from refrigerators located inside local communities, reducing both food loss and logistics costs.
FreshMarket currently operates in three cities in eastern China's Yangtze River Delta region, Suzhou, Wuxi and Shanghai, and has more than 2,000 community service points. In Suzhou alone, the firm offers more than 4,000 kinds of fresh produce.