Starbucks challenger Luckin Coffee raises $200m in latest funding round

Starbucks challenger Luckin Coffee raises $200m in latest funding round

Men check their mobile phones outside a Luckin Coffee store in Beijing, China July 17, 2018. Picture taken July 17, 2018. REUTERS/Jason Lee

Luckin Coffee, an up-and-coming coffee chain with ambitions to challenge Starbucks Corp in China, said on Wednesday it has raised $200 million in its latest funding round, bringing the company’s valuation up to $2.2 billion.

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