Chinese 3R Company Zhen Wei Xiao Mei Yuan Complete B+ Round Financing with Baidu Ventures as Leading Investor

Chinese 3R Company Zhen Wei Xiao Mei Yuan Complete B+ Round Financing with Baidu Ventures as Leading Investor

(Source: Zhenwei Xiaomeiyuan)

Your browser doesn’t support HTML5 audio

Zhenwei Xiaomeiyuan, a new Chinese 3R dishes brand, has recently completed a B+ round of financing, with Baidu Ventures as its leading investor and Dingxiang Capital and 01VC as co-investors, 36Kr reported on Tuesday.

In October last year, Zhenwei Xiaomeiyuan secured a deal worth millions in B round financing. It currently holds over 100 million yuan in B round and B+ round financing.

Zhenwei Xiaomeiyuan was founded in 2019. It works on the premise of cost-effectiveness and aims to provide “simpler cooking” for users. With the company’s slogan, “3R dish brand fit for Chinese taste”, the company aims to appeal to the widest body of consumers in the Mainland.

Since the beginning of 2021, Zhenwei Xiaomeiyuan has extended its product line. The company now has four product lines, including home cooking, special pastries, popular online cuisine and a family banquet series.

Recently, the company has also launched three gift boxes made up of New Year’s dishes. Each box has a different number of dishes which aims at offering an easy option to choose for a variety of family sizes.

To help families prepare for their New Year’s Eve celebrations, families can choose the a package that best suits their needs. Each package comprises some of the toughest and most time-consuming dishes to make, such as Steamed Stuffed Duck, Braised Pig’s Knuckle in Brown Sauce, and Spare Ribs with Garlic. There are also home-cooked options such as Boiled Fish with Sichuan Pickles, Poached Spicy Slices of Pork, Three Flavored Fat Pork Jelly, and squid with pickled cabbage.

SEE ALSO: Plant-based Food Tech Company Starfield Closes $100 Million Series B Round of Financing

Yue Guang, investment manager at Baidu Ventures, said: “Baidu Ventures is very optimistic about the future development of 3R dishes in China. As a new generation of solutions for eating at home, 3R dishes are undergoing a transformation in enterprises and consumers. Nowadays, young people face a faster pace at work and they have less ability and  desire to cook. Further, due to the epidemic, the 3R dishes industry is developing rapidly in China.”

Read More

Author: admin