Shanghai Yiguo Electron Business Ltd. and GMK Holdings have led a RMB120 million (US$18 million) series A round in Youpeiliangpin, an agricultural products supply chain and delivery platform.
Existing investors Yunqi Partners and iResearch Capital also participated in the round.
The company says it will use the proceeds on building up its technology infrastructure and improving its supply chain network.
The strategic investment will also allow Youpeiliangpin to integrate logistics resources and agricultural products producers from the two strategic investors, both with significant agricultural businesses.
Founded in March 2015, Youpeiliangpin provides one-stop agricultural products supply and delivery services to small and medium sized restaurants.
The company's objective is to link restaurants with farmers directly, in order to reduce product travel time and costs.
The company previously raised RMB10 million angel investment from Yunqi Partners and iResearch Capital in July 2015.
Shanghai-based Yunqi Partners is a Chinese venture capital firm focused on cloud computing, smart hardware, financial technology and B2B services, with key managers from IDG Capital Partners and GGV Capital.
iResearch Capital, affiliated with Chinese data service firm iResearch, manages three RMB funds and one U.S. dollar fund with over US$400 million under management.