China VC Weekly: Food, Pharma and Baby Products
Healthy fast food brand Super Zero announces early 2020 Series A round
Healthy fast food brand Super Zero announced that it had completed its A round of financing in early 2020. The round was led by Qriza Seed, with Joy Capital, China Growth Capital and Vision Capital following suit. Thriving Capital acted as the exclusive financial adviser. Super Zero raised several millions of dollars in its Pre-A round of financing, in addition to 10 million dollars in an angel round of financing.
Super Zero plans to start with low-calorie Chinese dishes, focusing on healthy fast food products.
In order to implement its vision, Super Zero is eying e-commerce platforms as its main sales channel in the future. Next year, the company intends to enter offline channels such as convenience stores.
About Super Zero
Super Zero, a company helping people lose weight through calorie-burning meals, was founded in 2017 and launched its first products in May 2019. The brand currently ranks first on Tmall in this category, with monthly sales exceeding 10 million yuan and a repurchase rate two to three times that of competitors.
Biopharma firm Angel Pharmaceuticals bags $41 million
Chinese biopharma firm Angel Pharmaceuticals received a $41 million cash investment from a group of domestic investors on Monday, raising its post-money valuation to $106 million.
The latest round was raised from funds associated with Chinese clinical trial and research firm Tigermed, pharmaceutical firm Betta Pharmaceuticals, Taizhou-based Hisun Pharmaceuticals, and asset management firm Zhejiang Puissance Capital.
About Angel Pharmaceuticals
A wholly-owned subsidiary of Nasdaq-listed clinical-stage biopharma firm Corvus Pharmaceuticals, Angel Pharmaceuticals brings innovative medicines to Chinese patients for treatment of diseases like cancer, autoimmune diseases and infectious diseases.
Baby product brand bebebus raises $14.7 million in Series A and A+ rounds
Chinese baby products brand bebebus announced on Thursday that it has raised nearly 100 million yuan ($14.7 million) in its Series A and A+ rounds.
The Series A round was backed by consumer sector-focused equity investment firm Tiantu Capital. The Series A+ round was backed by Matrix Partners China and Chinese venture capital firm Gaorong Capital.
Founded in 2018, bebebus launched its first product, bebebus Art+ baby strollers, on Alibaba’s e-commerce website Tmall in July 2019. The company then introduced a series of infant products, including child safety seats and baby tableware in the first half of 2020. The startup plans to roll out Travel+ baby strollers, Builder+ cribs, and Growing+ baby dining chairs and more.
SEE ALSO:China VC Weekly: WM Motor’s pre-IPO Round and Panlin Capital’s New Fund
Chengdu-based Hinova Pharmaceuticals closes billion yuan round
Chengdu-based drug development startup Hinova Pharmaceuticals has raised nearly one billion yuan ($147 million) from China-based institutional investors, and is thought to be gearing up for an IPO.
The most promising drugs in Hinova’s pipeline target diseases like prostate cancer and gout. The new round of financing will support “multi-center clinical trials and the commercialization of the firm’s drug candidates in China and internationally,” according to Deal Street Asia.
The firm previously raised $32 million in January 2020, and $40 million in 2019.
Founded in 2013, the firm focuses on research and development of treatments for cancers and metabolic diseases, and claims to be “one of the fastest growing start-up drug discovery and development companies in China.”