15 Chinese Companies to Watch in May 2022 – New Consumption

Consumer Staples Author: Hu Bi Editor: Tao Ni Jun 10, 2022 11:26 AM (GMT+8)

Editor’s note: We at EqualOcean tracked the major funding rounds or industry events that took place in China’s new consumption space for the month of May. And the following is a list of deals that we have selected for you based on a number of criteria including the funding amount, the financial backer and the segments in which the companies operate in.



On May 30, Seek (Chinese: 帅克), a company that focuses on the research, development and production of pet food, completed its Pre-IPO funding round of CNY 500 million (USD 75 million). The investment was led by Confitop Capital and Boyu Capital, followed by Riverhead Capital, Mango Fund, Sino Pacific Capital, Linyi City Fund and other investors. Founded in 2012, Seek has established a supply chain system to provide customers with one-stop pet food and pet snacks original entrusted manufacture (OEM) services.

Sunshine Dairy

Sunshine Dairy (Chinese: 阳光乳业, 001318:SZ), a professional dairy enterprise that integrates the research, development, production and sales of dairy products, successfully raised CNY 669 million from its IPO in the Shenzhen Stock Exchange on May 20. Headquartered in Jiangxi province, the firm advertises low-temperature dairy products and milk drinks as the main products. Besides, it also specializes in pasture and animal breeding.

Geek Technology

Geek Technology (Chinese: 极咖科技), a smart household appliances company, closed its Series A funding round worth tens of millions of USD on the 6th of May. Its business scope includes the design of electronic products, household appliances, furniture and lifestyle products. The investment was led by NBT Capital, followed by Challenjers Venture. Huanya Capital served as the exclusive financial consultant. 


CellX, a firm devoted to redefining the production and consumption of food by applying advanced innovations through life and food science, bagged nearly CNY 100 million from Jiawo Venture Capital, Lever VC, Agronomics, and Better Bite Ventures in Series A funding round in mid May. Founded in 2020 in Shanghai, CellX will mainly use proceeds from this round to expand the technology platform and promote the pilot test.

Youdong Network

Youdong Network (Chinese: 游动网络), a mobile game developer and operator, received CNY 126 million in a strategic funding round from investor Electric Soul (Chinese: 电魂网络) in late May. The post-investment valuation is CNY 630 million. Founded in 2011, the startup has already developed a number of games, with some entering the international market.


STARPONY (Chinese: 星空优品), a brand that focuses on providing more creative toys for children aged 3-10 around the world, closed its Series A funding round worth tens of millions of USD in mid May. It was led by eWTP, with participation from K2VC. The proceeds from this round of financing will be mainly used for talent recruitment, product development, brand building and other aspects.

Quantum Hi-Tech Biological

The acquisition of Quantum Hi-Tech Biological (Chinese: 量子高科), by Tate & Lyle Investments for USD 237 million was completed in late May. Quantum Hi-Tech Biological is an innovative company whose main business is biomedical research and development, micro-ecological nutrition and micro-ecological medicine. The acquisition was originally announced on March 31. Headquartered in Guangdong province, the firm will then formally join Tate & Lyle, adding to its global specialty food ingredients business.


Metaverse-related UGC platform BUD (Chinese: 零点一科技娱乐) completed a Series B round of funding for USD 36.8 million on May 23. The investment was backed by Sequoia Capital India, with participation from NetEase, ClearVue Partners and Northern Light Venture Capital. Besides, MM Capital acted as the exclusive financial advisor. The firm said that proceeds from this round of financing will primarily be used for the continuous development of its technology and the expansion into international markets.


MZZ (Chinese: 麻爪爪), a Chongqing-based company that specializes in the production of spicy marinated products, in late May raised nearly CNY 100 million in Series A+ funding round from investors including Jiawo Venture Capital, Jinding Capital and Fanqieziben. This round of financing will mainly be used for digital upgrade, supply chain construction and team-building required for cross-territory operation.



MTYJ (Chinese: 麦田映迹), a multi-channel network agency covering various vertical fields such as fintech, e-commerce and fast moving consumer goods, announced the completion of a Pre-Series A funding round worth tens of millions of CNY in early May. The investment was led by Anwell (Chinese: 宏威控股). To date, the firm's cumulative sales have topped CNY 500 million.

Guande Technology

Guande Technology (Chinese: 观德科技), a light sportswear brand, completed an Angel funding round for tens of millions of CNY backed by K2VC. The firm is dedicated to utilizing the new industry chain and technology to create good-looking and comfortable clothing products.


Bubbles, a company that focuses on teaching English vocabulary and pronunciation to kids, received USD 8.5 million in strategic investment from 468 Ventures, Khosla Ventures, Streamlined Ventures and Craft Ventures on May 13. Headquartered in Beijing, it has developed mobile applications to achieve this purpose. Based on the funding amount, this transaction ranked in the top 50% of all strategic investments made this year.


EPEIOS (Chinese: 金领马科技) officially announced the completion of an angel funding round of tens of millions of CNY in early May. The investment was led by Engage Capital, Tuya and other financial  institutions and industrial investors. The firm aims to create a convenient, sophisticated and micro-intelligent lifestyle for its customers. Its products are available for sale on third-party platforms such as Amazon and Rakuten and large-scale supermarkets.

Magic Drink Coffee

Magic Drink Coffee (Chinese: 乐饮创新), a coffee supply chain service provider, bagged CNY 50 million in a Series A funding round from investors including Peak View Capital (Chinese: 盛景嘉成) and Kuanzhai Capital Venture (宽窄创投) on May 10. The funding will be spent on bolstering R&D and production capacity for high-quality instant coffee. The firm emphasizes the development of industrialized solutions for fine instant coffee products.


Contact lens brand NORVEY secures CNY 35 million in angel funding round during the month of May, with the investment being led by Donghua. Besides, the company announced that this round of financing will be used for brand building and supply chain upgrades, as well as the recruitment of new talent. The firm emphasizes the incorporation of Chinese culture, especially that of the Tang and Song dynasties, into its contact lens style.