Coffee now receives RMB 60 million in Series A funding to make freshly ground coffee more convenient

[ Lieyun.com (WeChat: ilieyun )] March 21 report

Coffee now, a brand of freshly ground coffee, announced that it has received RMB 60 million in Series A financing from multiple investors including Shenzhen United Venture Capital, Shenzhen Topleader No. 1 Investment Fund, Suzhou Spark Zhongda Industrial Investment Fund, and Mr. Wan Hongchun, President of Hong Kong Shangrong Group. This round of financing will be mainly used to build an international-level R&D laboratory and a 140-acre industrial park in Wuxi, a coffee production base.

Coffee now's main products are single-cup freshly ground coffee drinks and single-cup drink machines. After roasting, raising and grinding the coffee beans, nitrogen is encapsulated in a high-temperature and high-pressure resistant "cup body", and this is a single cup of coffee. The cup body uses polymer barrier materials to achieve freshness preservation, and a single-cup drink machine can be used for drinking. It takes about 60 seconds from preheating to completion. In traditional scenarios, consumers quickly get coffee by drinking instant coffee, but Coffee now compresses the production time of freshly ground coffee to a lower value.

In terms of sales, Coffee now has successfully entered the supply system of CNPC and Sinopec. In December 2017, it entered the CNPC Kunlun Hospitality Convenience Store in Guangdong Province. In 2018, it was launched for sale in Easy Mart convenience stores. The goal is to cover 10,000 gas station convenience stores in the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei region within the year. It has reached a cooperation with Hongqi Chain Store, and more than 180 stores have been launched in the early stage of testing. More than 1,000 stores have been covered in Sichuan and Chongqing.

In addition to coffee, Coffee now's single-cup beverage research and development also involves milk, milk tea, fruit and vegetable juice, health products, Chinese herbal medicine, etc.

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