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Investments

2

About Haikong Capital

Haikong Capital (海控资本) is based in China.

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Latest Haikong Capital News

Chinese Checkout-Free Snack Bar Xiaoe Weidian Raises $30M As Sector Attracts More Players

Dec 11, 2017

Chinese snack-bar focused checkout-free convenience store operator Xiaoe Weidian has raised a RMB200 million (US$30 million) series B round from Zijue Capital, Haikong Capital, Hainan province government and Zhongguancun Science Park. To date, the company has raised three funding rounds, totaling nearly RMB400 million (US$60 million), according to a company announcement. With low barriers to entry and cost compared with full scale checkout-free convenience stores, snack bars have recently attracted a number of players and investors. Last month, both JD Daojia, the on-demand services unit of JD.com Inc., and SF Express launched its own snack bar business. Xiaoe Weidian’s rival Xingbianli raised a RMB380 million (US$57 million) series A1 round from Sequoia, China Renaissance Group, Vision Plus Capital and Lightspeed China Partners in the same month. But the influx of new players into the cashier-free store sector has raised questions about the profitability of the business model as a whole. Founded in 2015 and headquartered in Beijing, Xiaoe Weidian places snack bars in offices where customers can buy snacks, drinks and instant noodles by scanning a QR code and paying via mobile payment options. The firm currently operates in 10 cities, including Beijing, Shanghai, Guangzhou and Shenzhen, and has says it has placed over 5,000 snack bars in the offices of Tencent Holdings Ltd, Baidu Inc. and Didi Chuxing. Xiaoe Weidian previously raised an undisclosed amount of series A round in 2016 and another undisclosed amount of angel round in 2015.

Haikong Capital Investments

2 Investments

Haikong Capital has made 2 investments. Their latest investment was in Xiaoe Weidian as part of their Series B on December 12, 2017.

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Haikong Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/11/2017

Series B

Xiaoe Weidian

$30.22M

Yes

2

8/21/2017

Series A

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$99M

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10

Date

12/11/2017

8/21/2017

Round

Series B

Series A

Company

Xiaoe Weidian

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Amount

$30.22M

$99M

New?

Yes

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Co-Investors

Sources

2

10

Haikong Capital Team

1 Team Member

Haikong Capital has 1 team member, including current Chief Executive Officer, Shiyu Xie.

Name

Work History

Title

Status

Shiyu Xie

Chief Executive Officer

Current

Name

Shiyu Xie

Work History

Title

Chief Executive Officer

Status

Current

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