Tea brand CHALI (the “Company”) recently announced the closing of a Series B financing round of RMB 100 million. This round of financing was led by Country Garden Venture Capital, with CEC Capital Group’s investment fund and Wens (Guangdong) also participating in this round of investment. The proceeds from the financing will primarily be used for channel expansion and the construction of the Company’s Nansha R&D center.
CHALI was established in August 2013. The Company is positioned as a packaged tea products and retail store brand. Its main products include herbal and fruit blended teas with over 600 million tea bags sold. During this year’s Double 11 Festival (November 11) in China, CHALI’s online sales ranked third in T-mall’s tea category and first in the herbal tea category. On JD.com, CHALI’s Peach Oolong Tea pouch sold 140,000 units, ranking No. 1 in single product sales in JD’s tea categories.
CHALI also has approximately 24% market share in the B2B market, including sales to hotels, offices, and catering firms. Tan Qiong, CHALI’s founder, predicts that the Company’s total tea bag sales in China may exceed that of Lipton’s in the next 1-2 years.
The Company continues to focus on innovating new tea products and the development of new business lines. In addition to the R&D of original tea leaf products, the brand also launched its Bang Bang milk tea product this year. The pre-sale of 10,000 units of new products launched during last year’s Double 11 Festival sold out in under two hours.
About CEC Capital Group
Founded in 2000, CEC Capital Group is one of China’s leading investment banks, focusing on three major industries including global TMT, consumer and healthcare. In addition to its investment banking practice, CEC Capital Group manages both an RMB fund and a USD fund. The company is headquartered in Beijing, with offices in Shanghai. Its US affiliate, China eCapital Partners, LLC, has offices in Los Angeles and San Francisco.
About CEC Capital Group’s Future Industry Fund
CEC Capital Group’s Future Industry Fund is the first RMB fund established by CEC Capital Group, a leading investment bank in China. The Future Industry Fund focuses on growth investment opportunities in the areas of TMT, consumer, and healthcare. CEC Capital Group’s investment portfolio currently includes investments in China (Miss Fresh, Arrail Dental, and Universal Medical Imaging, among others) as well as in the US (Freenome). The Future Industry Fund currently operates out of offices in Beijing and Shanghai.
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