O2O Fresh Food E-tailer 'Fresh Market' Lands RMB 290 Mln Series C+
Lieyunwang, 9/12/17
Jiangsu-based Yisui Information Technology, operator of fresh food mobile O2O platform Fresh Market, has secured RMB 290 mln in Series C+ funding led by Tiantu Capital.
In order to enhance user experience, Fresh Market will provide each member family with a free smart card that will allow users to pick up pre-selected goods at Fresh Market self-pickup shelves by swiping the card.
Leveraging its order-placing and cold chain logistics systems, Fresh Market can provide users with a richer selection of goods. In Suzhou, for example, members can choose from more than 4,000 product SKUs.
Currently, Fresh Market has entered Suzhou, Wuxi, and Shanghai, covering more than 2,000 local distribution points. The company's average daily orders exceed 60,000, with Suzhou becoming the first city to turn a profit.
Editor's Note: Fresh Market users can purchase fruit, vegetables, meat, or seafood through either the Fresh Market mobile app or its official account on Tencent's (0700.HK) WeChat mobile messaging app. Users can select home delivery or pickup at designated locations. Fresh Market originally also allowed users to purchase goods via its website, but a note on the company's website now explains that as user habits increasingly shifted to favor access via mobile device, Fresh Market dropped the purchasing function from its website starting June 15, 2017. Fresh Market’s website now functions mainly to introduce the company’s services and to drive adoption of its mobile app and official account on WeChat. For more information on this topic, please see O2O Fresh Food E-tailer 'Fresh Market' Raises RMB 249 Mln Series C, MD 4/14/16 issue.
Keywords: VC m-commerce wireless funding Series C Tiantu Capital fresh food O2O Yisui Fresh Market B2C
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