Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Japan’s Finance Minister Expresses Concerns Over China’s Digital Yuan
U.S. Allows China’s iFlyTek to Resume Purchases of American-Made Medical Products During Outbreak
China Accounts For Nearly Half of All Global 5G Smartphone Shipments in 2019: Research
Xiaomi-Backed Smart Home Cleaner Maker Raises $641 Million in Shanghai IPO
Foxconn Allows Henan Workers to Return to Its Zhengzhou Complex
Alibaba-Owned Livestreaming Platform Taobao Live Sees Rapid Growth Amid Outbreak
Lenovo Charges Up Investors by Playing Down Virus Impact
Huawei ‘Disappointed’ After U.S. Court Rejects Its Federal Ban Challenge
Didi Installs In-Car Protective Sheets Between Drivers and Passengers to Control Coronavirus
Puma and Adidas Face Massive Sales Drop Due to Coronavirus
China Raises First-Batch Rare-Earth Mining Quota by 10% for 2020
Tesla and CATL Enter Advanced Stages of Talks Over Cobalt-Free Battery Supply
Hong Kong Unemployment Surges to Record High in Wake of Coronavirus Outbreak
First Huawei Smartphone to Replace Google Mobile Services Hits Europe Next Week
Jaguar Land Rover Unsure It’ll Recoup China Sales Lost to Virus
U.S. Jury Orders Motorola’s Chinese Rival to Pay $765 Million for Infringement
Property Giant Offers Massive Discounts Due to Covid-19 Virus
Didi to Launch Ride-Hailing Services in Sydney Next Month
Alibaba and Tencent Develop Health Tracking App To Help Authorities Control Virus
Apple Will Miss Quarterly Revenue Target Due to Coronavirus
Yet Another Chinese Coffee Chain Joins the Fundraising Frenzy

By Zhao Runhua / Apr 25, 2019 04:34 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

China’s coffee wars continue to brew.

Local chain Coffee Box (连咖啡) said Wednesday it has received a fresh 206 million yuan ($31 million) in funding — jointly raised by its two founders and local VC firms Qiming Venture Partners and Gaorong Capital.

The news comes two days after Starbucks' rival Luckin Coffee filed for an IPO in New York.

Coffee Box said its business is profitable, and it will start “a new round of expansion” soon — none of which could be independently verified. Earlier this year, Coffee Box shuttered several stores that the company said were losing money.

Originally, the five-year-old chain simply delivered coffee for global brands such as Starbucks and Costa. But it now delivers its own coffee, and operates stores where you can pick up drinks and food, and hang out — though the stores are small and aren’t designed for extended stays like at a Starbucks.

As with Luckin, Coffee Box has aggressively offered digital coupons to attract customers.

Related: China Challenger Taps Wall Street to Keep Growing

Share this article
Open WeChat and scan the QR code