Chinese Veggie Meicai startup application (美 菜) for selling vegetables to restaurants raised $ 800 million in the investment round with an estimate of $ 7 billion. According to a Bloomberg source, the company expects to receive an estimate of $ 10 - $ 12 billion.
Matrix Partners China spokesman Harry Man said food delivery to restaurants is a promising segment that will only grow in the near future. The largest food suppliers Meituan and Ele.me from Alibaba Group Holding Ltd occupy only 20% of the food delivery market, so the supplier of food products to small and medium businesses will occupy a large part of the market and become a serious player in China.
Earlier, FruitNews reported that Meicai is targeted at small and medium-sized restaurants. In 2014, when the project was just launched, 10 million restaurants across China used the platform. Last year, the company's revenue exceeded $ 1,4 million, and the geography of users expanded to 100 cities.
A source: https://fruitnews.ru/