Do the ingredient subtraction first, then add categories.
Coco100 has completed a series A financing round of tens of millions of CNY, led by Jiahe Food, followed by One Capital, with Palm Capital as the long-term exclusive financial advisor. This round of financing will be mainly used for brand building, team building and upstream supply chain investment.
Founded in October 2020, coco100 launched its first unsweetened coconut milk product in May 2021, successfully gaining a foothold in the C-suite coconut milk upgrade market. It launched 100% freshly squeezed coconut water in March 2022, which also achieved rapid growth in the past six months.
With only two coconut drink single products, coco100 has shown high growth momentum so far this year. The monthly GMV of coco100 has exceeded CNY 10 million (USD 1.4 million) since April 2022, several months to achieve the company headquarters level net profit. Coco100's omni-channel single-month GMV achieved nearly CNY 20 million in August, the annual target GMV reaches CNY 150 million this year.
Coco100 started its omnichannel layout very early. Offline compared to 15,000 points at the end of last year, coco100 has now signed a total of 50,000 points. At the same time, with the gradual rollout of the terminal sales channel network, the number of upstream cooperative OEMs has increased from one to five, and the bargaining power of the raw material side has also increased.
Brand building is also one of the main uses of this round of financing. The company will start from three aspects. Product marketing for the purpose of promoting new products is the first. Then is to launch "Coco Infinity Project”. And thirdly, lauch the Coco Friends Project, which is to explore brand co-branding & life scenario interaction.
The company's competitors include GURADO and HAPPUFAMILY.