(Yicai Global) May 31 -- Grain processor Shiyue Daotian has secured the largest amount of funding at a combined CNY1.75 billion (USD274.9 million) amongst China's staple foods companies over the past five years.

The company gained CNY1.45 billion in its Series B round of funding, led by Sequoia Capital China and Yunfeng Fund, the National Business Daily reported today. CMC Capital Group, Taihe Capital, and GenBridge Capital also participated in the latest round.

Last August, the agricultural firm attracted CNY300 million (USD47.2 million) from GenBridge Capital, the sole investor in its Series A round of financing, bringing the total to CNY1.75 billion.

Founded in 2018, Shiyue Daotian sells rice and other crops sourced from northeastern China. It posted a compound growth rate of 60 percent between 2017 and 2020. The company's registered capital is about CNY897.2 million.

Shiyue Daotian has created a new business model of agricultural internet and consumer internet, aided by digitization, while relying on its 10 industrial bases in northeast China, according to founder Wang Bing.

The firm can process 3,000 tons of rice daily or 1.5 million tons each year. Shiyue Daotian can store more than 300,000 tons of crops in its facilities in Liaoning province's Shenyang and Heilongjiang province's Wuchang. It can deliver its 700 types of products nationwide.

Editor: Emmi Laine, Xiao Yi