Suzhou FreshMarket E-commerce Co was recently designated as an information consumption demonstration project in China by the National Ministry of Industry and Information, according to local media reports.
The ministry selected the demonstration projects nationwide based on their services and consumption environment.
Founded in 2012 in Suzhou New District, Jiangsu province, FreshMarket is a fresh food retailer offering online orders and intelligent pick-up services.
Thanks to its cold chain logistics system, FreshMarket is able to deliver fresh farm produce directly from planting base to customers.
To date, the Suzhou retailer has established more than 3,300 intelligent pick-up refrigerators in communities in Shanghai, Suzhou and Wuxi and served over 2.8 million households.
With a total value of 760 million yuan ($107.78 million), FreshMarket has the potential to grow into a unicorn company, which refers to a privately held startup company valued at over $1 billion.
Suzhou FreshMarket E-commerce Co is designated as an information consumption demonstration project in China by the National Ministry of Industry and Information. [Photo/snd.gov.cn]