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.

Also read:

China: Checkout-free store Xing Bian Li raises $57m led by Sequoia

China Digest: Fosun RZ invests in T2 Cloud; iTrigger.cn raises $15m series A

China Digest: Tencent backs Alauda; Fosun RZ Capital puts $15m Series A in Alilo

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.