Recently, Freshone announced that it had completed its A round financing by the end of 2016. With this round of financing, the state-owned Dongfang Assets, under the banner of Dongfang Venture Capital, invested 10 million yuan to improve the supply chain, and information and management systems.
Furthermore, Freshone also announced the change in appointment of two high level employees. Xiao Zhilong, who holds the post of CEO of Freshone, is now also appointed chairman. The previous chairman, Xu Lu, has resigned, and will leave his position at the company. The new appointment will become effective immediately. It is the first announcement of the state-owned company joining in the financing.
Source: Tfresh iFresh