Chinese fresh fruit chain Pagoda raises $230 mln

Shenzhen-based fresh fruit chain retailer, Pagoda‘s latest funding round -series B- resulted in an $230 million investment by a number of investment firms. Pagoda raised the $230 million in the latest funding round as a result of participation by Co-Stone Capital, Source Code Capital, Shenzhen Capital Group Co Ltd, Zhongzhi Capital, Zhongjin Zhide Equity Investment Management, and Yuexiu Industrial Fund.

The fresh fruit chain retailer, launched in 2001, has 2,600 stores in over 40 cities in China. In 2017, the company generated sales of Rmb8.4 billion ($1.3 billion), from Rmb6 billion a year earlier. Dealstreetasia reports that Pagoda is planning to use the latest proceeds to develop its fresh fruit supply chain, build up an ecosystem, and enhance its industrial Internet.

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