Starbucks China rival Luckin Coffee raises $200 mn at $2.2B Valuation
Luckin Coffee raises $200 mn, Starbucks’ China rival Luckin Coffee HAS announced that it has raised $200 million in a Series B funding round at a $2.2-billion valuation. The funding round was led by investors including Singapore’s sovereign wealth fund GIC and China International Capital Corporation. Luckin Coffee was officially launched in January 2018 and has raised a total of $400 million to date.
Starbucks may have a new competitor in the competition to satisfy China’s caffeine addicts after an up and coming mainland coffee shop chain announced today that it had raised another $200 million. Also in the headlines, Savills Investment Management has been putting its London expertise to work helping Korean investors shop for buildings, and Singapore’s UOL has acquired a Sydney office tower. Read on for all these stories and more.
Luckin Coffee Raises $200M at $2.2B Valuation
Luckin Coffee, an up-and-coming coffee chain with ambitions to challenge Starbucks Corp in China, said on Wednesday it has raised $200 million in its latest funding round, bringing the company’s valuation up to $2.2 billion.
The fundraising was led by investors including Singapore sovereign wealth fund GIC and China International Capital Corp, the company said in a press release. Read more>>