China’s skincare brand Zhuben closes $50m in Series A, B rounds

Shanghai-headquartered emerging skincare brand Zhuben has completed its Series A and B rounds raising a total of $50 million, according to a company statement on Monday. 

Genesis Capital was the lead investor for the Series B round with the participation of Vision Plus Capital and 5Y Capital. Existing investor Yue Capital facilitated the transaction.

The Series A round was led by Vision Plus Capital while  5Y Capital and Yue Capital joined the round. 

Zhuben will invest the proceeds towards product R&D, brand marketing, talent recruitment, and supply chain management. 

Zhuben, founded in 2016 by Qianfei Liu who served stints at Milestone Capital and cosmetics startup Mocha, made its skincare products debut in 2018 through online channels such as Alibaba’s Taobao. 

It claims to have launched about 10 product lines including essential oils, face cream and mask, with over 80% of sales earnings coming from the cleansing oil category. It registered gross merchandise volume worth 200 million yuan ($31 million) in 2020, a 450% year-on-year growth. It is set to achieve up to a 500% increase in 2021.

Founder Liu holds a 41.43% stake in Zhuben followed by Shanghai Ruiyuan Management and YSC Cleaning (HK) with 23.3% and 15% equity interests, respectively. 

5Y Capital had in January also joined hands with leading investors such as SIG to invest 150 million yuan ($23 million) in male skincare startup Make Essense. 

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. 
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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.