Meicai: Check out the vegetable-selling startup that's valued at $2.8 bn

Meicai, which means "beautiful vegetable," was founded in 2014 with a goal of sourcing vegetables for about 10 million small and medium-size restaurants in China

Meicai, a China startup that helps farmers sell vegetables to restaurants, has raised $450 million in a funding round led by Tiger Global Management and China Media Capital, according to people familiar with the matter.

The Beijing-based startup raised the money at a valuation of about $2.8 billion as it seeks to expand in the costly fresh-foods market, said the people, asking not to be named because the matter is private. Genesis Capital was also an investor, the people said. The company and its backers scheduled a closing party for Thursday.

Meicai, which means “beautiful vegetable,” was founded in 2014