Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

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.

TRENDING
Ping An’s OneConnect Expands U.S. IPO to Raise $312 Million
China Hits the Accelerator on Road Surveillance Equipment
China’s BAIC Mulls Raising Daimler Stake to Almost 10%
LATEST
Exclusive: Local Government Said to Step In and Buy Anbang-Controlled Regional Bank
Ant Financial’s Vanguard Tie-Up Wins Regulator Approval
In Depth: Where is China’s Economy Headed Next Year?
China’s BAIC Mulls Raising Daimler Stake to Almost 10%
Ping An’s OneConnect Expands U.S. IPO to Raise $312 Million
China Hits the Accelerator on Road Surveillance Equipment
Baidu Unveils Budget Touch-Screen Smart Speaker with Focus on Child Safety
Alibaba Co-Founder Steps Down From Board Affiliated to Chinese EV Maker
Samsung Invests Additional $8 Billion in Flash Memory Chip Production in China
Markets Applaud Talk of U.S.-China Trade Deal
Chinese Genome Sequencing Firm to Supply Tech to Abu Dhabi Personalized Health Care Project
Apple Swerves $150 Levy on iPhones As U.S. and China Strike Trade Deal
China Merchants Bank Executive Arrested in Connection to P2P Business
Hillhouse-Backed Genor Plans $200 Million Hong Kong IPO
GitHub Looks to Open Subsidiary in China
5G Handsets Grow As Proportion Of China’s Sluggish Smartphone Market
China Executes Man Who Killed 3 Fearing Wife’s Forced Sterilization Under One-Child Policy
Agriculture Insurance Companies Take A Hit From African Swine Fever
Tencent-Backed News App Denies Explosive Fraud Allegations From U.S. Due-Diligence Firm
Defying Sentiment, WeWork’s China Rival Files for New York IPO
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