Yuanqi Forest financing process Yuanqi Forest negates the new round of financing valuation soars to 4 billion!

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It has been revealed that the "dark horse of the domestic beverage industry" is seeking a new round of financing, with a total financing of 500 million US dollars.

On January 25, the media reported that Yuanqi Forest was considering a new round of financing, seeking to raise 500 million US dollars. After this round of financing is completed, Yuanqi Forest is likely to be valued at at least $4 billion (about 25.9 billion yuan).

If the above $500m financing news is true, this means that Yuanqi Forest's valuation has doubled in less than a year, soaring to 4 billion, and this round of valuation growth is likely to be a record in the new consumer sector.

In this regard, Yuanqi forest-related people responded: the above news is not true.

According to the heavenly eye search information,

Yuanqi Forest, a subsidiary of Yuanqi Forest (Beijing) Food Technology Group Co., Ltd., was founded in 2016 as an innovative Internet beverage company focusing on "0 sugar, 0 fat, 0 card". Founder Tang Binsen was previously the developer of the game "Happy Farmer". In addition, before founding Yuanqi Forest, Yuanqi Forest founder Tang Binsen established Challenger Capital in 2014.

Yuanqi Forest has received four times of financing.

In December 2017, Yuanqi Forest completed the angel round financing invested by Challenger Capital.

In August 2018, Yuanqi Forest completed round A financing by Light-controlled Zhongying Capital and Gongqingcheng Xingchuang Investment.

On October 31, 2019, the strategic investment of 150 million yuan led by Longhu Capital, followed by Banyan Capital and Black Ant Capital was disclosed.

Among them, Angel Wheel, Round An and Round B financing did not disclose the transaction amount, and only disclosed the specific financing amount in October 2019.

The report said that the new round of financing by Sequoia Capital China and Yuansheng Capital, followed by some old shareholders, was valued at about $2 billion (14 billion yuan), but Yuanqi Forest officials did not respond to the financing news at the time.

Yuanqi Forest also poached Luckin Coffee's HRD ran Hao in December 2010. the news immediately attracted outside attention, and industry insiders said at the time that it was a prelude to Yuanqi Forest's attempt to enter the billionaire coffee market. On December 17 of the same year, Liu Zhen, former senior vice president of enterprise development in Jinri Toutiao, also joined Yuanqi Forest. Liu Zhen was mainly responsible for Yuanqi Forest overseas business after joining Yuanqi Forest across the border.

Throughout the development history of Yuanqi Forest, although Yuanqi Forest has not been established for a long time, its published sales data have shown that Yuanqi Forest is a dark horse in the domestic beverage industry. The monthly sales of Yuanqi Forest once exceeded 400 million in 2020. Yuanqi Forest revealed its offline channel sales target in 2021, which will rise from 2.1 billion last year to 7.5 billion this year. Tang Binsen, head of Yuanqi Forest, also revealed at the dealers' conference. 95% of Yuanqi Forest's products have not been launched, and 2021 will be the "product year" of Yuanqi Forest, with R & D costs and R & D personnel three times that of 2020.

There is no doubt that Yuanqi Forest will develop in the direction of multi-category and multi-brand. "I don't want to be an online celebrity brand" is not just talk, maybe the biggest dark horse in the beverage industry is about to break out.

* Image source: Internet

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