Chinese self-heating hotpot start-up gets $50m Series C

Existing investor Matrix Partners China re-upped. Matrix acquired a 12.7% stake in Zihaiguo for over RMB100 million in March, according to AVCJ Research's records. Its Series A was backed by Meridian Capital late last year. The company claims to have completed three rounds of funding in 10 months.

Zihaiguo launched its self-heating hot pot series in 2018. A self-heating clay pot rice line followed last year. In 2020, the company has focused on developing a smart factory that can process rice, noodles, and vegetables. Zihaiguo now has more than 100 products, covering self-heating, brewing, quick-cooking, and ready-to-eat categories. The goal is to invent convenient versions of famous Chinese dishes.

The company processes fresh food using freeze-dried technology, claiming that this retains the full taste and requires no additives. Its most recent innovation allows consumers to make noodles using cold water.

“Zihaiguo has strengthened its offline business and its upstream supply chain following our Series B investment. These new capabilities will bring more surprises to the market and consumers,” said Huadong Wang, a partner at Matrix, in a statement.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Consumer
• Early-stage
• Matrix Partners
• CICC
• Food