Beijing-based on-demand coffee delivery service start-up Luckin Coffee has completed US$200 million series A round of financing from Singapore’s sovereign wealth fund GIC, China’s Legend Capital, Joy Capital, and Centurium Capital, according to its official announcement. This fundraising round values Luckin Coffee at US$1 billion, reaching a unicorn valuation. Initiated early this year, Luckin Coffee was founded by Qian Zhiya, former COO at Chinese chauffeured car service firm Ucar Inc. The company claims it has already opened 525 stores in …
Chinese Luckin Coffee Raises $200M Series A Round From GIC At Unicorn Valuation appeared first on China Money Network.