Pagoda gets funding from Tiantu, others
Pagoda, China’s largest fruit shop chain based in Shenzhen, Guangdong province, announced on Wednesday it obtained 400 million yuan ($62.7 million) in Series A funding, the single largest financing secured in the domestic fruit chain retail industry. Tiantu Capital, which specializes in consumer goods investment, invested 350 million yuan in this round of financing, and became the second-largest shareholder of Pagoda after the investment. but the current slowdown has slammed the brakes on its ambitions. The crackdown on corruption has also contributed to tardy sales of luxury cars in China, leading Sunfonda last month to announce a 75 percent slump in its first-half net profit. providing virtual carrier service last year by renting telecom infrastructure from China Unicom and China Telecom Co Ltd.