Nice Tuan’s $80 Million Series C2 Financing

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP advised Nice Tuan on the deal.

Nice Tuan, a Chinese community e-commerce platform that provides daily groceries and miscellaneous products, has secured $80 million in a Series C2 round of financing led by CDH Fund with participation from GGV Capital, INCE Capital, and CMBC Capital.

This C2 series financing is aiming to consolidate Nice Tuan’s warehouse capacity and strengthen its supply chain.

Nice Tuan is one of the many online groceries and fresh produce platforms that target China’s community dwellers and leverage on functions like group buying to break into an untapped market. However, those platforms more or less have been experiencing some obstacles along their development paths.

The Gunderson deal team included Zhen Liu (Picture), Cheryl Lin, Mabel Ding and Shuyue Tan.

Involved fees earner: Mabel Ding – Gunderson Dettmer; Cheryl Lin – Gunderson Dettmer; Zhen Liu – Gunderson Dettmer; Shuyue Tan – Gunderson Dettmer;

Law Firms: Gunderson Dettmer;

Clients: Nice Tuan;

Author: Michael Patrini