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.
Food and Dining
- Dining brand Soup Master (汤先生) raised tens of millions of yuan in Series A+ financing
Featuring soups, the dining brand Soup Master announced on May 14th that they raised tens of millions of yuan in Series A+ financing from IDG Capital. Previously Soup Master raised tens of millions of yuan in Series A financing led by Light Speed Capital and followed by DL Capital in August 2017. In the angel round financing, Soup Master raised nearly 6 million yuan led by Zhen Fund and followed by Mr. Kanglin Li, the partner of Tiantu Capital in March 2017. The new financing will be mainly used to expand offline channels, upgrade the information system of stores and develop a variety of retail soup products. Soup Master was established in July 2015, featuring non-MSG healthy soup and sweet nourishing soup with a price range from 35 to 40 yuan. At present, Soup Master has 25 direct-managed stores in Shanghai with a size of 30 square meters each. The soup menu at stores is adjusted according to seasons. In the summer, the menu will add sweet soup and light grain products. In addition, Soup Master also launched retailed soup products, such as small box soup, chicken soup and so on.
- Bakery chain brand Baoshifu (鲍师傅) raised hundreds of millions of yuan in Series A financing
Bakery chain brand Baoshifu announced on May 18th that they raised hundreds of millions of yuan in Series A financing from Tiantu Capital. Its evaluation reached one billion yuan after financing. Baoshifu was established in May 2015. Products cover cakes, biscuits, puffs and other categories. Popular products are beef floss cakes, egg yolk pastry, chocolate cakes and mousse cakes. At present, Baoshifu has 26 direct-managed chain stores, in which 13 are in Beijing.
- Tea drink brand 1314 raised 20 million yuan in Series A financing
The tea drink brand 1314 announced on May 16th that they raised 20 million yuan in Series A financing. The investor was not disclosed. 1314 was formerly known as “Answer Tea”. Users can write down the question on tea bags before drinking and reveal the answer after opening the lid. Afterwards, 1314’s themes expanded from answering questions to speaking and making wishes. At present, 1314 has more than 40 SKUs and 2 offline stores, with a daily sales amount of 15,000 yuan.
- Tea leaf brand Gongjiyongyuan (龚记永元) raised millions of yuan in angel round financing
Tea leaf brand Gongjiyongyuan announced on May 14th that they raised millions of yuan in angel round financing from Weiwei Zhong, the partner of Kymco Capital. The financing will be mainly used for product development, team expansion and market development. Gongjiyongyuan was established in February 2018. Currently the main sales channel is Youzan e-commerce. In addition, Gongjiyongyuan hosts events for promotion, such as regular tea-culture public exhibition and so on.
- Household e-commerce Quan5 (全屋优品) raised 70 million yuan in Series B financing
The household decoration e-commerce platform Quan5 announced on May 16th that they raised 70 million yuan in Series B financing, led by Fosun Ruizheng and followed by Galaxy VC and exiting investors, K2VC and Zhen Fund. Previously, Quan5 raised 30 million yuan in Series A financing. Quan5 went online in March 2016 officially, with a business model of S2B2C. In addition to selling to customers, Quan5 also sets up small business accounts through city partner franchising. There B-end business complemented the platform, providing pre-sales, product distribution, after sales and other local service. At present, the platform has a GMV at tens of millions of yuan per month with a monthly growth ratio of 30%~40%.
- Smart retail experience and data provider Whale (帷幄) raised millions of yuan
Smart retail experience and data service provider Whale announced that they raised millions of yuan in angel round investment from Alpha Startups. Whale was established in October 2017. Products include Flow camera, Lantern data platform and the recently launched Mango smart shelves. Based on visual images and gravity sensor technology, the smart shelves can achieve functions such as product display, dynamic discounts, non-sales settlement and so on.
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| Chinese reporter: Jiaqi Wang
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