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Grocery Startup Seeks $500 Million as Chinese VC Funding Gets Tougher

  • Fresh food delivery startup seeks funding up to $500 million
  • Missfresh is backed by Tiger, Goldman, Jeneration Capital
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Tencent Holdings Ltd.-backed grocery delivery startup Missfresh is seeking new funds, according to people familiar with the matter, refilling its coffers as startup capital-raising gets tougher.

Beijing Missfresh Ecommerce Co., which also counts Goldman Sachs Group Inc. and Tiger Global Management as backers, is looking to fetch a valuation of at least $3 billion, the people familiar said, requesting not to be named because the matter is private. The company plans to raise $300 million to $500 million at a valuation of as much as $4 billion, one of the people said.