Qicheng Venture Capital, an investment fund backed by Chinese e-commerce giant JD.com Inc. has made a strategic investment in brick-and-mortar fresh produce chain store operator Qiandama.
The move comes as JD.com, along with several other Chinese online shopping services, continues to expand its offline retail channels to dominate how consumers buy everything from televisions to eggplants.
It is unclear how much capital Qiandama raised in this latest round, which was reported by local media citing insiders. JD.com's goals, as the largest backer of Qicheng Venture Capital, are also undetermined.
JD.com could deploy its resources in fresh produce supply chain management, logistics capabilities and financial services to help Qiandama scale up and create a seamless online-and-offline shopping experience.
The move does appear to b...
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