Chinese coffee shop chain raises $200m, achieves unicorn status
Luckin Coffee, a Chinese coffee shop chain established last year, has raised $200 million in Series A funding from GIC Private, Centurium Capital, Legend Capital, and Joy Capital. Centurium, a GP established by ex-Warburg Pincus China head David Li, is said to be the lead investor.
The round values Luckin at $1 billion, according to a statement. Zhiya Qian, the company’s CEO, added that the proceeds would be used for product research, technology innovation, and business development....
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