Womai.com, a startup Chinese online food retailer, has received new investments from private equity firm SAIF Partners. SAIF Partners is a private equity firm that focus on high groth potential companies in various sectors that include Internet, Mobile, Information Technology, Consumer Products and Services, Education, Healthcare, Manufacturing, and Financial Services.

A source with knowledge of the deal said that the transaction was worth at least US$10 million. The two companies involved, however, did not disclose the financial details including the amount of the SAIF Partners investment.

Womai.com, started by the COFCO Group in 2008, competes with Yihaodian.com and sfbest.com for the online food retail market shares. Womai previously said that the new funds they would draw from the investment would be used to improve marketing and to expand its network. The company said its goal is to become China's biggest online food retailer.

SAIF Partners was established in 2001 and manages over US$3.5 billion in assets today. SAIF Partners has become one of the most active and biggest funds in the region with at least 100 investments since its inception.