On May 31, this financing round was jointly led by Sequoia Capital China and Yunfeng Capital, followed by CMC Capital, Taihe Capital and GenBridge Capital.
Up to now, Shiyuedaotian has completed two rounds of financing, introducing a Series A funding round of CNY 300 million from GenBridge Capital in 2020. The two rounds with 1.75 billion in total topped the basic ingredients sector in China amid the past five years.
Founded in 2018, Shiyuedaotian is a grower and a processor of rice and miscellaneous grain products. The company's business scope includes food processing, food production, self-operated business, e-commerce platform business, mainly focusing on northeastern rice, cereals and meal replacement powder.
Through online and offline omnichannel sales, the firm fully covers the preferences of multi-level users, firmly maintaining first place in the sales of rice and miscellaneous grains on the core e-commerce platform. From 2017 to 2020, the company's sales grew at a compound annual growth rate of 60%. During the epidemic in 2020, the sales of Shiyuedaotian grew by 80% year-on-year.
In 2020, after the introduction of strategic investments, the company firmly laid out the upstream industry belt, continuing to build a highly intelligent and modern supply chain system and enhancing the consumer experience.
According to Wang Bing, the founder of the firm, "Shiyuedaotian is building ten industrial bases in the northeast of China, creating supply chain and extending industrial chain. In the era of network collaboration and data intelligence, we create a new business model of agricultural internet and consumer internet with online and digital technology."