Sina Technologies News Beijing morning on October 10, according to Bloomberg, citing people familiar with the situation, China's startup American Cuisine Network has raised at least $600 million in a round of financing led by Tiger Global Management and Hillhouse Capital.
The money will be used to expand the business and help the company gain a bigger share of China's decentralized food procurement market, people familiar with the matter said. According to its disclosure, the company raised about $800 million with a valuation of $7 billion. In the financing round before January, the pre financing valuation of the US Food Network reached US $2 billion 800 million.
Founded by scientist Liu Chuanjun in 2014, Meicai aims to buy agricultural products for about 10 million small and medium-sized restaurants in China.
Mei Cai and Gao Ling capital declined to comment on absolute financing news. Tiger Global's external public relations agency has yet to respond. (a boat)
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