15 Companies to Watch in November 2022 —— New Consumption

Consumer Discretionary Author: 杨斯怡, Yiran Xing Dec 01, 2022 10:00 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 in November 2022. 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 backers, and the segments in which the companies operate.



Chinese circular fashion brand Hongbulin (Chinese: 红布林) successfully raised USD 100 million in series C round of funding. It was invested by Zhuanzhuan (Chinese: 转转集团). The money will be mainly used for service standardization, user experience improvement, product development and database construction.

Founded in 2017, Hongbulin is a circular fashion platform with second-hand luxury trading as the core. The trading products cover a full range of trendy fashion categories such as bags, shoes and apparel, jewelry and watches.


Chinese B2B intelligent marketing company Bailian.AI (Chinese: 百炼智能) raised CNY 100 million (USD 13.8 million) from Pre-B series financing round on 7 November. The round of funding was led by Enlight Growth Partners (Chinese: 明裕创投) and Fore Bright Capital (Chinese: 光远投资), followed by DeTong Capital (Chinese: 德同资本), and continued to be increased by the previous shareholder Orient Capital (Chinese: 东方嘉富) and Yunqi Partners (Chinese: 云启资本).

The funding will be used to develop products, strengthen marketing, and improve the competitive barrier of AI technology.

Bailian.AI is a Chinese B2B intelligent marketing service provider, founded in 2018, providing data-driven intelligent marketing SaaS products and digital solutions for companies with B2B marketing needs.


Chinese hotel brand Atour Lifestyle Holdings Limited (Chinese: 亚朵酒店, NASDAQ:ATAT) listed on NASDAQ on 11 November 2022.

The investors in Atour's IPO include Bank of America Securities (Chinese: 美银证券), Citigroup(Chinese: 花旗集团), CICC(Chinese: 中金公司), CMB International Capital Corporation Limited (Chinese: 招银国际), Redbridge Securities and Tiger Securities(Chinese: 老虎证券). The well-known investment institution Snow Lake Capital (Chinese: 雪湖资本) participated in the IPO as a cornerstone investor.

Founded in 2013, Atour is a Chinese lifestyle brand group that started with accommodation, aiming to deliver a humanistic, warm and enjoyable lifestyle with continuously improved quality products, services and experiences to consumers.


Chinese cost control SaaS provider Xibaoxiao (Chinese: 喜报销) successfully raised tens of millions of CNY in series A round of funding on 9 November 2022, with exclusive strategic investment from Baiwang (Chinese: 百望云).

The funding will be used to develop a new business expenditure management platform, expand sales and promotion channels, and broaden market segments.

Founded in 2015, xibaoxiao is an enterprise mobile reimbursement and expense control application.

截屏2022-11-30 17.59.51.png.png


Cozyla (Chinese: 酷吉乐), a smart home brand, has raised CNY 40 million in angel round of funding. The round was led by Trium Capital (Chinese: 三合资本) and Maike Fund Management (Chinese: 麦客基金), and followed by Sunwoda (Chinese: 欣wanda), Tonly (Chinese: 通力股份), and Yuze Capital (Chinese: Yuze Capital (Chinese: 宇泽资本). The financing is mainly for product development and marketing.

Cozyla, founded in 2022, is a smart home brand focusing on overseas markets. Its existing product plans include smart cloud screen, smart photo frame, smart alarm clock, smart mailbox, and smart central control screen.

Tianyuan Pet

Hangzhou Tianyuan Pet Products CO., LTD (Chinese: C天元宠物) was listed on the Shenzhen Stock Exchange on 18 November 2022.

Tianyuan Pet was established in 2003, mainly engaged in the field of pet products and pet food, and its products cover a wide range such as pet litter, cat climbing frame, pet food, pet toys, pet apparel, electronic products and other multi-series and full categories of pet products.

Zhengong Spirits

Zhengong spirits (Chinese: 真工酒业) has completed a strategic financing round of CNY 600 million from Dayone Capital (Chinese: 日初资本). This round of financing will be used for continuous brewing, brand building and technology improvement.

Founded in 2021, Zhengong spirits is a sauce spirit brand located in the core Moutai sauce spirit region.


Weilai.today (Chinese: 未来好宿) completed a Series A financing round of tens of millions of CNY, led by Yeepay's fund and followed by several residential brands. The funding will be mainly used for rural accommodation coverage, integration and operation team upgrade.

Weilai.today is a membership system boutique accommodation platform, focusing on the middle-class family travel service field through the membership system to provide users with cost-effective peripheral vacation products.


Guomai (Chinese: 国脉酒业) has raised a strategic investment of CNY 360 million from Xi'an Gold Charge With Much Wisdom Fund Management CO.,LTD (Chinese: 西安金控远智). This round of financing will be used to jointly promote the market layout of the sauce spirit industry in China.

Guomai is a liquor manufacturer with businesses in liquor production, sales, brand management, channel operations, internet e-commerce operations, and agricultural product production.


Hxiaobao (Chinese: 汇小宝) completed CNY 50 million Series A funding round with undisclosed investors.

Hxiaobao is a Chinese aggregated payment service provider that focuses on providing mobile payment and marketing solutions for offline merchants. It provides comprehensive solutions and diversified services for domestic catering, retail, apparel, wholesale, beauty, pet, bakery, fresh food and other industries.

Ruiyun Cold Chain

Ruiyun Cold Chain (Chinese: 瑞云冷链), a Chinese cold chain company, raised CNY 200 million in Pre A+ round of financing. The round was co-invested by Mitsubishi Corporation (Chinese: 三菱商事) and MLI Fund (Chinese: 瑞穗力合), with additional funding from Panlin Capital (Chinese:磐霖资本) and Qingsong Fund (Chinese: 青松基金). 

This round of financing will be used for platform technology development, LTL network construction, and marketing. Up to now, Ruiyun cold chain platform has more than 160,000 registered users.


Xinanyouxuan (Chinese: 芯安优选) recently announced the completion of CNY 80 million Series A+ funding round. This round of financing will be mainly used to accelerate market growth, unmanned retail technology innovation, and community ecology construction.

Founded in 2022, Xinanyouxuan is a community milk direct supply solution provider and a milk smart retail brand that provides users with proximity and self-service consumption scenarios.


JOHOBUS (Chinese: 酒号巴士), a craft beer hall franchise service provider, recently raised HKD 72 million in Series A+ financing round, with strategic investment from Hong Kong New World Investment Holdings Limited.

The funding will be mainly used for brand upgrading, enterprise restructuring and upgrading transformation.

JOHOBUS is a company that integrates production, warehousing, logistics, office, catering and training and communication, and is committed to building a Chinese brand of pubs.


Maifushi (Chinese: 迈富时) filed for an IPO on the Main Board of Hong Kong Stock Exchange on 21 November, with CICC and CCB International as joint sponsors.

According to the prospectus, Maifushi provides an integrated cloud solution covering an enterprise's entire marketing and sales management process, from content and experience, advertising and promotion, social and relationship, sales and delight, data and analytics to strategy and management, through the Marketingforce platform.

LX Technology

LX TECHNOLOGY (Chinese: 凌雄科技, HK: 02436), the parent company of Bearrental (Chinese: 小熊U租), was listed on the Main Board of the Hong Kong Stock Exchange on 24 November. Bearrental provides customers with full lifecycle equipment recycling services, equipment subscription services, IT technology subscription services and equipment management SaaS services.