China: Pagoda raises US$230M to enhance fruit supply chain capacity, online presence
Chinese fresh produce retailer Pagoda has successfully raised US$230 million for a range of projects to build on its current network of 2,600 stores across more than 40 cities, Dealstreetasia.com reported.
The story reported the company - which has both bricks-and-mortar retail as well as e-commerce operations - planned to use the funds for developing its fresh fruit supply chain, building up an ecosystem and enhancing its industrial internet.
Investors involved in the capital raising reportedly include Co-Stone Capital, Source Code Capital, Shenzhen Capital Group Co Ltd, Zhongzhi Capital, Zhongjin Zhide Equity Investment Management, and Yuexiu Industrial Fund.
The story reported Pagoda's sales jumped 40% last year to reach CNY8.4 billion (US$1.3 billion).
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