This Vegetable-Selling Startup’s Just Been Valued at $2.8 Billion
- Tiger, CMC, Genesis are said to lead $450 million investment
- Meicai app seeks fund for expansion in vegetable sourcing
This article is for subscribers only.
Meicai, a China startup that helps farmers sell vegetables to restaurants, has raised $450 million in a funding round led by Tiger Global Management and China Media Capital, according to people familiar with the matter.
The Beijing-based startup raised the money at a valuation of about $2.8 billion as it seeks to expand in the costly fresh-foods market, said the people, asking not to be named because the matter is private. Genesis Capital was also an investor, the people said. The company and its backers scheduled a closing party for Thursday.