Chinese cold chain logistics firm, Fresh Life, nets US$93 million

Fresh Life Style Supply Chain Management is a subsidiary of the Chinese agricultural business conglomerate New Hope Group. It has recently completed its Series A round of financing raising 600 million yuan (US$93 million).

The round saw participation from Hong Kong-listed Chinese property developer Longfor Group Holdings' investment arm Longfor Capital, CICC Capital's CICC Qihong Fund, and Far East Horizon's investment vehicle Shanghai Zhouji Tongji Asset Management. Chinese global investment bank Taihecap served as the exclusive financial advisor of the deal.

According to¸ the proceeds from the latest round will be used for cold chain logistics improvement, service systems upgrade, talent enhancement, and digital platform innovation, the company said. Fresh Life, also known as Xianshenghuo, is designed to be a business-to-business (B2B) fresh produce-based cold chain services platform.

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