(Yicai Global) June 12 -- The firm behind Haishangxian, a Chinese online platform connecting fisherman and seafood distributors, has closed CNY200 million (USD31 million) in C-round funding as it looks to enhance its service channels and offer a greater experience to fishers.
Zall Group led the round, injecting CNY120 million for a 22-percent stake in Ningbo Haishangxian Information Technology, online news outlet Lieyun reported. Existing investors Shunwei Capital and Ningbo Bird also joined the round.
Through subsidiaries and offices at major ports, and with support from marine WiFi communication terminals, Haishangxian provides open and real-time information for both buyers and sellers of aquatic produce to facilitate transactions and increase customer retention. It provides four main services: maritime communication, a trading platform, supply chain finance and value-added services, such as insurance for fishermen.
The platform has become a potential unicorn, according to Ye Ning, founder and chief executive. Haishangxian will continue to seize market opportunities with a view to listing in 2020, he added.
The firm aims to become China's largest one-stop platform for fishery services, integrating buyers and sellers along China's eastern coasts meeting the Yellow Sea, Bohai Sea and the East China Sea.
Editor: James Boynton