FRESH & FINE FOOD GROUP

In 2016, a new company called FRESH & FINE FOOD GROUP, also known as Xinlengda, was established with backing from the New Hope Group's Grassroots Zhiben platform. The company aimed to tackle a complex but essential part of the food industry: cold chain logistics. It set out to provide services for restaurants, fresh food retailers, and producers, handling everything from the source to the final store. From its base in Chengdu, China, the company expanded rapidly. It pursued a dual strategy of building its own infrastructure while also acquiring other companies to grow its network. This approach allowed it to quickly establish a nationwide presence. The core of its business is ensuring that fresh and frozen foods are transported and stored at the correct temperature throughout the supply chain, a critical service for food quality and safety. A significant turning point came in January 2021 when the company secured 600 million RMB in a Series A funding round from prominent investors. This was followed by more funding, including a B+ round that brought its total Series B financing to nearly 900 million RMB. These investments solidified its status as a potential unicorn and provided the capital to further develop its technology and expand its reach, which now includes over 100 branches across the country.