Brazilian meat heavyweight Minerva has invested in local online supermarket Shopper.com.
Minerva has led a Series B funding round in the business, contributing BRL29m (US$5.1m) to the total BRL120m raised.
The Brazilian firm said the investment agreement also includes an option to supply Shopper with products and provide assistance in managing its meat-sales operation.
In a stock-exchange announcement, Minerva said the investment fits into one of its three innovation pillars – creating an e-commerce marketplace platform.
Shopper.com, which has been described as Brazil’s largest pure-play online supermarket, sells household goods such as food, cleaning products and personal hygiene items.
Minerva said: “Shopper delivers a differentiated shopping experience that is reflected in the high loyalty and satisfaction levels of its client base.”
Founded in 2015, the platform currently has more than 350,000 users registered and operates across 21 cities in the state of São Paulo, where it is based.
Minerva pointed to the online retailer’s fast growth rate, describing it as “a consistent CAGR of 295% since its foundation”.
It added: “Shopper is a unique opportunity that contributes to strengthening Minerva Foods’ digital-sales channel, advancing in the food industry value chain and bringing us ever closer to the end consumer.”