Gfresh, a global online seafood marketplace, raised $20M in funding.
Backers included Alibaba (Riverhill) and Legend Capital. In conjunction with the funding, Simon Xi, the co-founder of Alibaba, and Tony Wang of Legend Capital will also be joining the board.
The company intends to use the funds to pursue product initiatives for its online seafood marketplace; expand to new markets; and upgrade its logistics supply chain service.
Led by Reg Tang, Founder/CEO, and Anthony Wan, Co-Founder/VP, Gfresh operates a live and fresh online seafood marketplace, and provides escrow systems, integrated logistics, and a freight booking platform. Gone live in November, 2014, the distribution of the marketplace currently covers Beijing, Shanghai, Guangzhou, Chongqing, etc., selling over $200m in gross merchandise value in over 30 countries or regions.