SINGAPORE (Aug 4): SunMoon Food Company says Tmall has invested US$300 million ($407 million) in China’s Shanghai Yiguo E-Commerce, the single largest indirect shareholder of SunMoon with a 51% stake.

Formerly known as Taobao Mall, Tmall is China’s largest business to consumer (B2C) website and is an independent business under Alibaba Group.

In a Friday regulatory to the SGX, SunMoon says the latest round of funding – which represents Alibaba’s fourth injection of capital into Yuguo – will be used for the further development of Yiguo’s subsidiary, ExFresh, which is also China’s largest cold-chain logistics platform.

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