The popular healthy drinks company plans to use the funds to support further research and develop the global market.
On April 9, 2021, Genki Forest raised USD 500 million in a new round of strategic financing led by existing shareholders Sequoia China and Warburg Pincus and L Catterton (Catterton Partners), followed by Temasek Investments, Gaorong VC and Longfor Investment. After the financing, the company's valuation is expected to reach USD 6 billion, according to a person familiar with the matter. According to the company, the funding will be used to support further research, invest in the construction of factories, and to continue to internationalize. Its valuation of Genki Forest has tripled within a year.
Founded in 2016, Genki Forest leads in sugar-free drinks products. The company was founded by Binsen Tang, a famous post-80s entrepreneur in China's game industry. In the past four years, the company has obtained six rounds of financing. Nowadays, when buying drinks, the demand for health has become an important decision-making factor for customers, especially the new generation of young consumers. The company has seized the new opportunity for this kind of social structural change and transformed user needs into a part of the product strategy. We believe that Genki Forest is a company with even greater potential in the beverage industry and look forward to its listing plan in the future.