Chinese startup Meicai (美 菜), a veggie app for selling vegetables to restaurants, raised $ 800 million in an investment round with an estimate of $ 7 billion. Bloomberg said 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 first launched, the platform was used by 10 million restaurants across China. Last year, the company's revenue exceeded $ 1,4 million, and the geography of users expanded to 100 cities.
Source: https://fruitnews.ru/