Taikang Life Insurance led a $220m series C funding round in Womai.

Taikang Life Insurance, a Beijing-based, China-incorporated life insurance company, led a $220m series C funding round in Womai, an online grocery company, with participation from Baidu, Yunlong Capital and Ronghui Capital. “We always have this firm belief that cooperation among multiple parties to achieve a win-win situation is an inevitable path for COFCO Womai to pursue market-oriented development. The introduction of diverse capital and partners is conducive to increasing corporate management quality and operation efficiency and establishing marketized operation mechanism. The tie-up with Taikang Life and Baidu, which should be considered not only financial investment but also in-depth strategic cooperation, is a win-win that will greatly boost the development of Womai and the other parties,” Frank Ning, COFCO Group Chairman.