Luckin Coffee raises another $200m to fuel expansion

Bagging $400 million within five months, it is increasingly convincing for Luckin Coffee to call itself a challenger to Starbucks in China.

Luckin Coffee, China’s high-flying coffee chain, has said it wants to challenge Starbucks’ leading position in the industry. Some may call it a boaster, but investors are actually backing the plan.

The young startup said Wednesday it has completed its Series B fundraising, raising $200 million from a group of investors including Joy Capital, Centurium Capital, CICC and GIC Private, Singapore’s sovereign wealth fund.

The investment came as a little surprise since the coffee chain has just raised another $200 million from its series A funding round five months ago, with Joy Capital, Centurium Capital and GIC Private both participated.

Luckin Coffee...

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