On July 26, China’s new coffee chain brand “Bestar Coffee” announced that it had recently completed an angel investing round worth tens of millions of yuan. The angel investor was Shunwei Capital, and the funds will be used for store expansion and team expansion.
Bestar Coffee was established in 2022 and is currently preparing to open 18 stores in Shanghai and Suzhou. The stores will offer Italian coffee in addition to tea and fruit-flavored specialty coffees and tea drinks.
The company plans to open 500 stores in Jiangsu, Zhejiang and Shanghai within the next three years, and then continues to radiate outward. At the same time, the company is also preparing to establish a coffee college to promote the development and dissemination of coffee culture.
After that, a food supply chain factory will be set up through which instant and freeze-dried coffee merchandise will be launched for online sales. Bottled beverage products will also be developed for sale at convenience stores and other retail outlets.
In terms of its team, founder Wu Binbin has more than 10 years of experience in the chain industry, and has experience in managing and operating over 1,000 chain stores. Bestar Coffee has also gathered many core team members who have worked for Luckin, Starbucks, Jascaffe Factory, and others, and has many senior Q-Graders, internationally certified roasters, and baristas.
Cheng Tian, a partner of Shunwei Capital, said: “Shunwei Capital has long been concerned about the new changes and new opportunities emerging in the domestic consumption field. At present, first-and second-tier cities have driven the rapid development of China’s coffee consumption market, and the demand, supply and infrastructure of coffee are constantly improving. A new generation of coffee brands have now begun to emerge.”