# HeyTea

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/heytea

- Industry: Consumer Products
- Headquarters: Shenzhen, China
- Website: www.heytea.com
- Total disclosed funding: $594M
- Latest round: Series D (Jun 13, 2021)
- Investors on record: 11

## About

Established in 2012 and based in Shenzhen, China, Shenzhen Meixixi Catering Management Co., Ltd. operates milk tea chain stores. The company opened a total of 695 stores in 61 cities around the world. In August 2018, the company raised 16 USD in Series A funding. As of August 2019, Hey Tea has 265 outlets in 37 Chinese cities, as well as three in Singapore. The company raised RMB 4 million in Series B funding in 2018. After the financing in 2021, the company is valued at RMB 60 billion. As of June 2021, the company raised a total of 4 funding rounds.

The company provides milk tea and fruit tea for customers. The company also provides baked food in its stores. The firm specializes in fruit tea, cheese-infused tea, and instant milk, fruit, and traditional Chinese tea goods.

In 2021, the management of the company said Shenzhen Meixixi Catering Management Co., Ltd. will not choose to go public in the short term. In September 2021, the company plans to go public for USD 500 million in 2022.

## Funding rounds

- Series D, Jun 13, 2021, $500M — L Catterton, Hong Shan, Temasek Holdings, Tencent Investment, Hillhouse Investment, BA Capital, Dayone Capital
- Series C, Mar 23, 2020 — Coatue Management, Hillhouse Investment
- Series B, Jul 1, 2019 — Hong Shan, Tencent Investment
- Series B, Apr 26, 2018, $63M — Long Z Investment, BA Capital
- Series A, Apr 14, 2017, $15M — IDG Capital
- Series A, Aug 22, 2016, $16M — Capital Today, IDG Capital

## Investors

- Capital Today (https://capitalatlas.ai/funds/capital-today) — Series A
- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Series A
- Long Z Investment (https://capitalatlas.ai/funds/long-z-investment) — Series B
- BA Capital (https://capitalatlas.ai/funds/ba-capital) — Series B, Series D
- Hong Shan — Series B, Series D
- Tencent Investment — Series B, Series D
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series C
- Hillhouse Investment (https://capitalatlas.ai/funds/hillhouse-investment) — Series C, Series D
- L Catterton (https://capitalatlas.ai/funds/l-catterton) — Series D
- Temasek Holdings — Series D
- Dayone Capital (https://capitalatlas.ai/funds/dayone-capital) — Series D