On Wednesday, Seesaw Coffee announced it completed its A + round of financing, bagging over 100 million yuan, with HeyTea as a new investor, followed by Hongyi Baifu, an old shareholder. This is the first time HeyTea has invested in a coffee brand.
Milk tea has become a new trend among China’s younger generations. Over the years, we’ve seen some popular milk tea brands emerging in China.
If Luckin is not the “Starbucks of China”, the question arises as to who is or has the potential to be?