Fields, Shanghai’s Premier Online Grocery Store, Raises $5 Million in Series A Funding
Shanghai, 15August 2013, Fields Shanghai’s premier online grocery store, closed a $5 million Series Around of funding. This significant milestone is an endorsement of the high level of quality that FIELDS represents. This Series Afunding is led by ClearVue Partners, a private equity fund targeting fast growing and promising consumer companies in the Greater China region.
“We plan to use this investment to further expand our operations, website, and new warehouse, as well as to recruit more top talent,” said Steve Liang, CEO of FIELDS. “Most importantly, we want to connect with our customers and better meet their needs, by strengthening our service, quality, and community.”
In addition to increasing the number and frequency of delivery locations over the next year, FIELDS will also offer its customers more unique products, an increased variety ofexciting fresh fruits and vegetables, and a broader selection of seafood and meats. These highest quality foods will be sourced fromtrusted local and international suppliers. FIELDS already tests its products regularly for pesticides and traces of heavy metals; this investment will permit further rigorous and sophisticated testing to reassure customers that their food is safe and of the highest quality.
Established in 2009 by Mr. Liang and TZG Partners in response to food safety concerns in China, FIELDS has grown from a small start-up into a company with more than 180 employees and tens of thousands of customers in Shanghai, Zhejiang, and Jiangsu. FIELDS is a market leader in offering high quality, safe, and consistent products from around the world toits customers. FIELDS’ expanding customer base includes both expatriates and Chinese who are increasingly concerned about healthful eating.
“Fresh food delivery is an important and rapidly growing category in ecommerce, especially in China,” said William Chen, Managing Director at ClearVue Partners. “FIELDS’ business operations, management team, and their focus on qualityimpressed us greatly andare the reasons we chose to invest in this leading platform.”
“A happy life starts with fresh, nutritious, and healthful foods and I’m delighted that together we can make this possible. Many of our customers now order all of their family food supplies from FIELDS. Thank you for that,” added Steve Liang.
FIELDS China is a Shanghai based online grocer that strives to carry the freshest and highest quality foods. FIELDS provides healthful and safe options for a family’s grocery needs, including vegetables, fruits, meats& poultry, fish & seafood, beverages, dairies, bakery items, and personal care products. Seasonal produce and ready-to-serve dishes are also available.
With same day delivery on orders in Shanghai, FIELDS makes it convenient and affordable for customers to have healthful, safe, organic, seasonalfoods items in China—both local and imported. Customers in other cities can enjoy convenient next day service.
About TZG partners
TZG Partners is a Shanghai-based business initiation and investment firm focused on building and growing new businesses that further the objectives of socially responsibility, sustainability, and/or lifestyle quality. TZG captures value by leveraging strategic thinking, market knowledge, entrepreneurialism, and creativity to initiate new businesses.
About Clearvue Partners
ClearVue Partners is a private equity fund focused on investments in the fast growing and dynamic consumer sector in the Greater China region, primarily in the food and beverage, consumer lifestyle, and consumer internet/mobile sub-sectors. ClearVue targets growth stage investments in fast growing and promising local companies, enables market entry for leading international consumer brands into China, and develops top tier brands and businesses. ClearVue team has a unique combination of investment and senior operations experience from the US and Greater China, with an advisory group of recognized business pioneers in the consumer industry.