HONG KONG: Meicai, a Chinese start-up that connects vegetable farmers with restaurants, is seeking at least US$500mil in funding to try and grab a larger slice of a fragmented food sourcing market, sources said.
The company is looking to achieve a valuation of between US$10bil and US$12bil, one of the people said. The figures are preliminary and subject to change based on market conditions, the sources added. Meicai said in a statement it doesn’t have specific fundraising targets at this moment.
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