# Never Coffee

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/never-coffee

- Industry: Consumer Products
- Headquarters: Beijing, China
- Website: www.nevercoffee.com
- Total disclosed funding: $0.5M
- Latest round: Angel (Dec 7, 2015)
- Investors on record: 1

## About

Never Coffee specializes in innovative beverage solutions, focusing on high-quality coffee products and expanding into related drink segments, including tea and lemon water.Founded in 2015 in Beijing, China, Never Coffee, also known as ????(??)??????, operates primarily in the beverage sector, offering coffee and related drinks. The company has made strategic pivots, including the launch of a unique extraction line in 2016 and a new ambient coffee series in 2022. Never Coffee has undergone significant changes, including an acquisition by Genki Forest Beverage Co. Ltd. in February 2021. The company has raised a total of 3.000 CNY mn through 4 funding rounds, with its latest funding being an Angel round of 3.000 CNY mn, backed by investors such as Hongtai Aplus. The company is co-founded by Zachary Davis and Zuofei Liu, with Zuofei Liu currently serving as CEO.Never Coffee offers a diverse range of beverage products centered around coffee. Their core offerings include cold brew coffee, introduced through a first-of-its-kind extraction line in 2016, and a newly launched ambient coffee series in 2022. The product lineup has been expanded to include lemon water and pure tea beverages, catering to a broad audience. Never Coffee has established a strong distribution network, spanning over 100 cities in China, and reaching more than 50,000 convenience stores and supermarkets, which underscores its extensive market presence.In 2022, Never Coffee achieved sales exceeding 100 million CNY, with revenue generated primarily through direct sales to retailers and wholesalers. Their sales strategy focuses on bulk orders, allowing retailers to stock a variety of Never Coffee products. The company's flagship products, including cold brew coffee and the ambient coffee line, are marketed as premium offerings, aligned with current consumer preferences for ready-to-drink beverages.Never Coffee is set to continue its expansion with the introduction of new products targeting health-conscious consumers. Specific upcoming launches include additional flavored coffee and tea beverages, scheduled for release in late 2023. The company aims to penetrate new geographic markets beyond China, with plans to establish a presence in Southeast Asia by mid-2024. The latest funding from the Angel round, acquired on February 18, 2021, will be allocated towards product development and expanding operational capabilities to support these growth initiatives.

## Funding rounds

- Angel, Dec 7, 2015, $0.5M — Hongtai Aplus

## Investors

- Hongtai Aplus (https://capitalatlas.ai/funds/hongtai-aplus) — Angel