Nongfenqi Closes Hundreds of Millions of RMB in Series C Funding, Existing Investor Source Code Capital Continues to Increase Stake

源码资本·April 8, 2018·0·0

Pursue a path of sustainable modern agriculture that is low-cost, high-tech, and high-yield.

Nongfenqi, a leading agricultural services company in China, has officially announced the completion of a Series C financing round totaling several hundred million RMB. The round was led by ZhiYi Capital, with participation from BAI, Yonghua Investment, Shunwei Capital, Source Code Capital, ZhenFund, and InnoVen Capital. China Renaissance served as the exclusive financial advisor for this transaction.

In addition to expanding its business scale and strengthening its agricultural service channels, the Series C funding will further tap into the market potential of the agricultural inputs sector, integrating advanced agricultural technologies and university research resources to build the "Nongfenqi Future Agriculture Lab."

Tong Sun, Vice President of Investment at Source Code Capital, commented: "Nongfenqi rapidly embedded itself into agricultural production scenarios through financial services, building a powerful ground-level network in the process. By improving efficiency and empowering stakeholders, it has gradually extended its value proposition upstream and downstream along the industry chain. The rapidly growing business data gives us even more confidence in Nongfenqi."

Leveraging its advantages in financial tools, Nongfenqi aims to optimize and streamline every link in agricultural production through the large-scale application and promotion of cutting-edge technologies and innovative models, ultimately boosting efficiency across the sector.

Founded in 2013, Nongfenqi serves large-scale agricultural producers, offering one-stop services spanning finance, production, grain trading, and agricultural technology support.

Financing History:

In 2015, Nongfenqi completed its angel round jointly invested by Plum Ventures and Future Capital.
In 2016, it raised tens of millions of RMB in its Series A round, led by Shunwei Capital with participation from Source Code Capital, Yonghua Investment, and Future Capital.
In January 2017, it closed a Series B round of over 100 million RMB, led by BAI with participation from ZhenFund, Shunwei Capital, Source Code Capital, Future Capital, Yonghua Investment, and Sinolink Securities.

Jian Zhou, founder of Nongfenqi, revealed that the team is actively working toward automated management of agricultural production and planting. By leveraging satellite remote sensing, IoT, big data, and cloud computing technologies, Nongfenqi aims to dramatically reduce labor costs across cultivation, planting, management, harvesting, and sales — shifting away from crude manual farming practices toward a sustainable modern agriculture path defined by low costs, high technology, and high efficiency.

More Funding News

Zhangshang Fucai Closes Tens of Millions in Pre-A Round; Existing Investor Source Code Capital Continues to Back