15 Chinese companies to watch in April 2022 – New consumption

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Editor’s Note: At EqualOcean, we’ve been tracking major funding rounds or industry events that took place in the new Chinese consumer space in April 2022. And here’s a list of deals we’ve curated to you, based on a number of criteria, including funding amount, backers, and segments in which the startups operate.

V comma

Founded in 2021, T COMMA, a Chinese tea beverage brand offering “fresh nutrition”, raised €50 million in its pre-Series A funding round on April 19. The Italian leather goods, RUWISHDA wine and clothing is the investor. The proceeds will be used to open 60 stores in Nanjing and hold summer events, according to a company statement.

KEYi Technology

KEYi Technology (Chinese: 可以科技) in April secured a strategic investment led by smart charging technology company Anker Innovations (300866) (Chinese: 安克创新). The amount of the investment is not disclosed. Existing backers Shunwei Capital, Bluerun Ventures and Xiaomi (01810:HK) also poured money into the deal. Founded in 2014, the robotics company has won over customers in 82 countries and districts with its flagship product ClicBot, a set of programmable modular robots for kids.

Smart LeSheng

Intelligent sweeping robot company LeSheng Smart (Chinese: 乐生智能) closed its Series A+ funding round of CNY 200 million (USD 30.26 million) on April 13, backed by Fortune Capital (Chinese: 达晨财智). Established in 2017, the company aims to develop smart home appliances such as sweeping robots, handheld vacuum cleaners and air purifiers.

Help

Outdoor smart cleaning robot brand Aiper (Chinese: 元鼎智能) bagged hundreds of millions of CNY in its Series A funding round on April 11. This cycle is led by XVC; battery company SUNWODA (300207) (Chinese: 欣旺达) also joined the investment. Founded in 2015, the Shenzhen-based company aims to develop the world’s best cordless robot pool cleaners.

Bananaunder

Sequoia China-backed retailer Bananaunder (Chinese: 蕉下), known for its products with built-in sunscreen technology, filed a listing prospectus on the Hong Kong Stock Exchange on April 15. CICC and Morgan Stanley are the co-sponsors. Founded in 2013, the company is expanding its product line from UV-filtering umbrellas to clothing, footwear and accessories. Previously, Bananaunder pocketed over $50 million in three funding rounds backed by Sequoia China, China Renaissance and Borchid Capital.

Pangpangxiang

Shanghai’s largest canteen food supplier, Pangpangxiang (Chinese: 乓乓响), filed for listing on the Hong Kong Stock Exchange on April 8. Founded in 2012, the company provides agricultural product distribution services for canteens and hotel restaurants. Pangpangxiang is Shanghai’s largest canteen agricultural product distribution service provider by 2020 revenue, according to business consultancy firm Frost & Sullivan.

Nature hike

Outdoor equipment brand Naturehike (Chinese: 挪客) closed its first round of financing worth nearly CNY 100 million on April 11, led exclusively by Eastern Bell Capital. Founded in 2010, the Ningbo-based company provides high-quality lightweight products for hiking, camping and mountaineering, including tents, tables and chairs, sleeping bags and air mattresses. The company holds more than 80 patents and has customers in 72 countries.

≥9

Sparkling wine maker ≥9 (Chinese: 大于等于九) raised CNY 100 million in its Series A funding round led by Centurium Capital. The collected corpus will be used for brand building, sales channel development and marketing. The company has been targeting young consumers since its creation in 2021, offering trendy and low-alcohol drinks.

Xijie Zhachuan

Snack brand Xijie Zha Chuan (Chinese: 喜姐炸串), known for its deep-fried skewers, raised CNY 75 million in its Series A+ funding round on April 25, with exclusive investment from Vision Knight Capital. Previously, it raised CNY 295 million in Series A backed by Source Code Capital and Focusstar Capital. Founded in 2019, the Nanjing-based company aims to provide healthy leisure snacks.

DOC coffee

DOC Coffee has entered into a strategic investment from leading domestic tea brand Shuyi Grass Jelly Tea (Chinese: 书亦烧仙草). The amount of funding is not disclosed. Founded in 2019, DOC has launched seven stores exclusively in Changsha, aiming to appeal to younger generations of consumers with creative drinks, a cute dinosaur logo, and delicate packaging and interior design.

For change

EdTech company ForChange (Chinese: 风变科技) announced on April 26 that it had completed a Series B+ funding round worth tens of millions of CNY from BoC&Utrust Private Equity Fund Management. It received three funding rounds in total, joined by investors like GGV Capital, THE Capital and S&G Investment. The company provides technical solutions for businesses, governments, universities and individuals in the vocational education sector.

Cure Fun

Medical education service provider CureFun (Chinese: 治趣) received tens of millions of CNY on April 8 in a strategic investment by Sequoia Capital China, 91Huayi.com (Chinese: 华医网) and Shukun Technology (Chinese: 数坤科技). The company raised a total of $6.5 million in funding in three rounds.

Now homestay

Homestay platform Now Homestay (Chinese: 未来好宿) raised tens of millions of CNY in its pre-Series A funding round from Yeepay.com (Chinese: 易宝支付) April 18. marketing team and launch recreational activities around homestays.

frozen dock

Prepared food brand Frozen Dock (Chinese: 冻品码头) has pocketed tens of millions of CNY in Series A funding, with Yuan Kun Venture Capital as sole backer and Dark Horse (300688: SZ) as a financial advisor. Funds raised will be used for building cold chain warehouses, improving the supply chain, expanding the market and channels.

Aocai

Aocai (Chinese: 傲彩) closed its CNY 60 million Series A funding round on April 1, backed by K2VC, Taiya Investment Group and Zhengxuan Investment. Founded in 2017, Aocai is a B2B e-commerce platform providing small batch packaging and printing services, aiming to improve commerce through smart tools.

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