Naiyuki raised US$100 million Series C funding



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Shenzhen News (Shenzhen)—Shenzhen Pindao Restaurant Management, owner of tea chain Nayuki, has completed a Series C funding around of over US$100 million to bring the company value at almost US$2 billion.

The latest funding round is said to be led by private equity firm PAG with Jack Ma’s Yunfeng Capital among the investors.

Nayuki is said to be considering an IPO in Hong Kong, after the coronavirus pandemic stalled its plans following is reported filing of an offering in the US last February. This comes as Heytea, another major tea chain in China, is reported to be planning for an IPO in Hong Kong in 2021.

The company will invest the funds on product research and supply chain digitalisation.

Founded in 2015, Shenzhen-based Naiyuki has more than 350 stores across 51 cities in China. It is the first unicorn in China’s tea chain sector.