Luxe.Co has launched “Luxe.Co China Investment Weekly” since 2016, reporting weekly updates on investment and financing in the China fashion and lifestyle industries. The updates cover fashion, beauty care, food and dining, sports and fitness, hotel and travel, household products, culture and creativity, and other related fields.
Fashion E-Commerce Platform
- Trendy e-commerce platform INXX raised hundreds of millions of yuan in Series B financing
China trendy e-commerce platform INXX announced on March 22nd that they raised hundreds of millions of yuan in Series B financing. The financing arrangement was led by Legend Capital and followed by Xianfengqiyun. The new round of financing will be mainly used on branding, channels, supply chain, team building and so on. INXX was established in 2014, holding multiple self-owned brands (INXX, Pilgrimage, Stand by, Black and Blank, Screw Loose and so on), and several collaborated trendy brands (KTZ, IH NOM, NIT, Juun.J, Christian Dada and so on) in multiple product categories including clothing, shoes, bags, jewelry and so on. On the distribution channel side, INXX has over 130 offline stores, including INXX boutique shops, INXX Street boutique shops targeting mass-market, and X Concept Stage stores targeting high-end customers. Online channel includes two TMall stores, one Taobao store and one mobile store.
- Jewelry sharing platform SAPHNY （幸福纪） raised tens of millions of yuan in Series Pre-A financing
Jewelry sharing platform Saphny announced on March 17th that they raised tens of millions of yuan in Pre-A financing led by Fengze Venture Capital. Previously, Saphny raised angel-round financing in September 2017. Saphny went online officially in September 2016. Saphny has accumulated 200,000 users currently. Users exchange their spare jewelry through the platform and receive a certain amount of coupon, which they can use to experience other jewelry. At present, 80% of the jewelry on the platform are from user exchange, and 20% are provided by jewelry brand partners.
Food and Dining
- Tea drink brand NAIXUECHA (奈雪の茶) raised hundreds of millions of yuan in Series A+ financing
Tea drink brand Naixuecha announced on March 19th that they raised hundreds of millions of yuan in Series A+ financing from Tiantu Capital with a post-investment evaluation of nearly 6 billion yuan. Previously Naixuecha raised 100 million yuan in Series A financing from Tiantu Capital in November 2016. The new round of financing will be used on team building, centralized factory and upstream supply chain building, IT system building and store expansion. Naixuecha was established in 2014, featuring two main product categories “soft bread + tea”, including hand-made tea drink, fruit tea, and cream top tea. Currently Naixuecha has over 50 stores in 13 cities in China including Beijing, Shanghai, Nanjing, Hangzhou, Wuhan, Chongqing and so on. All stores have large sizes with over 200 square meters each.
- Duck dining brand Jiaogeyazi (Call a Duck 叫个鸭子) raised Series A financing
Duck dining brand featuring secret recipe, Jiaogeyazi announced on March 21st that they raised Series A financing from Xiaomafeng Venture Capital. The detailed amount was not disclosed. Previously, Jiaogeyazi raised 10-million-yuan angel-round financing from Zhiying Venture Capital and Share Capital in 2015. Jiaogeyazi was established in 2014, featuring duck with secret recipe and duck-related food. Their ducks are non-catalytic and ecological, sourced from Baiyangdian, Hebei.
- Snack brand BALLONFISH SNACK (河豚有情绪) raised angel round financing
The themed snack brand Ballonfish Snack announced on March 21st that they raised angel-round financing from Plum Ventures and Yifuze Investment. The detailed amount was not disclosed. Ballonfish Snack was established in March 2017, with business to both C end and B end. At the C end, Ballonfish Snack packs and designs products with different themes including “following soap opera”, “exams”, “drinking snacks”, “office snacks” and so on. Products include peanut persimmon species, boneless chicken claw, fruit and vegetable crisp, French fries and so on. Sales channels include offline supermarket and convenient stores. At the B end, Ballonfish Snack offers snack shelves and has served Tencent, Xiaomi, Lenovo and other offices.
Sports & Fitness
- Smart Gym Lianyu Fitness (练遇健身) raised 5 million yuan in angel-round financing
24-hour smart gym Lianyu Fitness announced on March 19th that they raised 5 million yuan in angel-round financing from Qibao Assets. The financing will be mainly used on the R&D and upgrade of smart devices and software, as well as branding and promotion. Lianyu Fitness was established in 2017, with one experience store and five franchise stores in Shanghai, Guangzhou, Zhengzhou, Haerbin and Xian. Lianyu Fitness gym is divided into equipment zone, aerobic zone, spinning room, group class room, shower room and so on. All smart fitness equipment in the stores are customized with built-in smart chip owned by Lianyu Fitness. The monthly membership fee is 199 yuan or 299 yuan according to different cities.
- Sports platform The Joy Run (悦跑圈) raised one hundred million yuan in Series C financing
The sports service company The Joy Run announced on March 19th that they raised 100 million yuan in Series C investment. The financing arrangement was led by China Creation Ventures and followed by ABC Capital and Guangzhou Jiufang Enterprise Management. Previously, The Joy Run raised 18 million US dollars in Series B financing from The Arena Capital. The new round of financing will be mainly used for team and business expanding and so on. The Joy Run was established in 2014, entering the running sports market with online running APP RUN. The APP provides functions including in-door and out-door jogging counting, and sports news content. In addition, The Joy Run hosts a large number of sports events. Currently they have hosted hundreds of events and activities, with an annual income of 80 million yuan in 2017.
- Wedding service platform Hunliji (婚礼纪) raised 65 million US dollars in Series C financing
One-stop wedding service platform Hunliji announced on March 19th that they raised 65 million US dollars in Series C financing. The financing arrangement was led by Orchid Asia, and followed by previous investors Matrix Partners, Fosun RZ Capital and so on. Previously, Hunliji raised 30 million US dollars in Series B+ financing in March 2016. The new round of financing will be mainly used on product R&D, team expansion, smart trading system and smart recommendation system. Hunliji was established in 2013. Entering the wedding market from wedding memo tools, Hunliji has evolved into a one-stop wedding preparation platform including wedding banquet, wedding filming, wedding planning, wedding car rental, wedding candy and invitation, anchors, oversea weddings and so on. Currently the platform has over 80,000 cooperation partners and has accumulated tens of millions of users with monthly GMV of over one billion yuan.
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| Chinese reporter: Jiaqi Wang