China Digest: Supermonkey raises Series C; Xiaoe Weidian bags $30m Series B

Photo: Supermonkey website

Supermonkey has closed a Series C round led by Jian Sheng Sports Fund. Meanwhile, Xiaoe Weidian, a checkout-free snack bar operator, has raised a $30-million Series B round from several investors.

Supermonkey closes Series C led by Jian Sheng Sports Fund

Supermonkey, the first boutique fitness studio in China, has raised an undisclosed sum in a Series C round led by Jian Sheng Sports Fund to expand its operations nationwide, according to Chinese media reports.

Founded in 2014, Supermonkey currently operates in 30 locations in Beijing, Shanghai and Shenzhen and plans to expand to 100 locations next year.

The gym operator had earlier secured RMB50 million ($7.6 million) in a Series B round from Ventech China, Fosun RZ Capital and Arena Capital in February. All these investors also joined the latest Series C round.

Supermonkey had earlier raised tens of millions of RMB in a Series A round from Fosun RZ Capital in 2016.

Jian Sheng Sports Fund was co-founded by Sequoia Capital China and China Media Capital in March to promote the Chinese sports industry through industrial resources and investment.

The fund had previously led a Series A investment round in Wanmingyang Media, a boxing events operator and video content provider, and invested in Hero Sports, an esports events operator.

Xiaoe Weidian bags $30m in Series B

Xiaoe Weidian, a Chinese automated snack bar operator, has raised RMB200 million ($30 million) in a Series B round from Zijue Capital, Haikong Capital, Hainan province government and Zhongguancun Science Park, according to a China Money Network report citing a company announcement.

The company had previously raised an angel round in 2015 as well as a Series A round in 2016 without disclosing any financial details. However, it said that the latest round brings its total funding to nearly RMB400 million ($60 million).

Founded in 2015, the Beijing-based startup currently operates in 10 cities, including Beijing, Shanghai, Guangzhou and Shenzhen. It claims to have set up thousands of snack bars in the offices of Chinese giants such as Tencent Holdings, Baidu Inc and Didi Chuxing.

Recently, its competitor Xingbianli also raised RMB380 million ($57 million) in a Series A1 round from Sequoia, China Renaissance Group, Vision Plus Capital and Lightspeed China Partners.

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