IDG Capital

Pupumall is an online platform based in Fuzhou, China, specializing in the instant delivery of a diverse range of food products. Founded in 2016, the company enables customers to conveniently order groceries online, including fruits, vegetables, meat, poultry, dairy, seafood, grains, oils, beverages, snacks, and daily necessities. Pupumall's innovative platform connects individual customers with local delivery riders, facilitating quick and efficient delivery. This model not only enhances the grocery shopping experience for consumers but also optimizes warehousing and distribution processes for vendors, making it a key player in the online grocery market.

Yololand is an innovative food supplement brand that focuses on promoting a healthy lifestyle through its products. The company specializes in cereal breakfast cups, which offer a convenient way for customers to enjoy traditional food supplements. Yololand distinguishes itself with its patented Youle cup design and a clean label formula, emphasizing a fashionable and health-conscious brand culture. By prioritizing quality and convenience, Yololand aims to meet the dietary needs of today's consumers while fostering a commitment to wellness.

Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

HeyTea is a Chinese tea shop that focuses on innovative beverages, particularly cheese-topped tea and fruit tea. Founded in 2012 in an alley by the riverside, the company initially operated under the name ROYALTEA before rebranding to HEYTEA. The franchise offers a diverse range of products, including instant milk tea, fruit tea, and traditional Chinese tea, aimed at providing customers with unique flavor combinations. Through its distinct offerings, HeyTea has established itself as a prominent player in the tea beverage market.

Baman is a company based in China that specializes in producing and delivering packaged beef rice noodles. It operates a chain of offline restaurants focused on Hunan cuisine, with an emphasis on engaging the youth demographic. In addition to its restaurant operations, Baman offers retail, e-commerce, and catering services, aiming to preserve and promote the culinary traditions of Hunan among younger generations.

Baman Beef Powder, formerly known as Funiutang or F.N.T, is an online-to-offline brand that focuses on Hunan beef noodles and instant beef powder. The company markets its products through online channels while also running restaurants in Beijing, providing customers with both packaged goods and dining experiences.

Saturnbird Coffee Co., Ltd is a coffee shop operator based in Changsha, China, established in 2011. The company specializes in a range of coffee products, including a unique instant coffee powder that utilizes advanced brewing technology to preserve the original flavor and aroma of coffee beans. This innovative product can be dissolved in various liquids, such as hot or cold water, milk, and oat milk, allowing for versatile consumption. Saturnbird Coffee aims to enhance the coffee drinking experience through its thoughtfully designed cafes, which focus on the choice of utensils and interior aesthetics, creating an inviting atmosphere for coffee enthusiasts.

Daddy Sweety is a company specializing in handcrafted toasts, which launched its first store in July 2016. With over 300 locations across the United States, the brand has become a prominent presence in major shopping malls. Daddy Sweety offers a diverse range of products, featuring its signature toast series that includes flavors such as original, chocolate, caramel, durian, egg yolk, brown sugar, and mochi. In addition to toasts, the company also produces cookies, macarons, cakes, and other baked goods. Notably, in 2020, Daddy Sweety set a Guinness World Record for "The Largest Baking Course," further solidifying its reputation in the food industry.

Wenheyou is a Chinese food service company that operates a chain of customized food courts specializing in traditional Hunan spicy snacks and beverages. Its offerings include crawfish, red tea, stinky tofu, deep-fried skewers, breakfast pastries, and other trendy food items tailored to young consumers seeking unique dining experiences.

Xiaoxian Dun is a healthy food products company that develops products from bird's nests. The company focuses on researching and developing a way to make a bowl of bird's nests that are just as good as a stew pot's slow-cooked bird's nest so that more people can enjoy it. The company seeks to revive and expand the conventional bird's nest market.

SoupMaster is a Chinese restaurant chain and retail brand. It provides various nutritious soups for pregnant women, patients with a demand for health recuperation, and other people pursuing high-quality life.

Guoquan Shihui is a Chinese food supplier specializing in hot pot and barbecue ingredients. It operates both B2B and B2C models, offering a wide range of products including casual snacks, fresh food, and ready-to-eat meals through its offline stores and online platform.

food

Jiadianziwei is a compound condiments brand focused on the R&D, marketing of flavored soup base, bowl chicken seasoning & scallion sauce.

food, beverage

Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

Dmall is a cloud-based, end-to-end SaaS platform for local retailers and brand owners in China and Asia. Its offerings include a retail core service cloud, an e-commerce service cloud, and a marketing and advertising service cloud, all designed to improve operations, sales, and customer experiences. Built on Dmall OS and AIoT, the platform provides integrated data insights across retail activities to guide actionable improvements. The three clouds work together to deliver a one-stop solution for streamlined operations, commerce, and marketing. Dmall is positioned as a leader in retail digitalization, addressing core needs such as upgrading consumer experience, increasing operational efficiency, safeguarding system security, and supporting ESG responsibilities.

Jiadianziwei is a compound condiments brand focused on the R&D, marketing of flavored soup base, bowl chicken seasoning & scallion sauce.

SoupMaster is a Chinese restaurant chain and retail brand. It provides various nutritious soups for pregnant women, patients with a demand for health recuperation, and other people pursuing high-quality life.

Guoquan Shihui is a Chinese food supplier specializing in hot pot and barbecue ingredients. It operates both B2B and B2C models, offering a wide range of products including casual snacks, fresh food, and ready-to-eat meals through its offline stores and online platform.

Bluebear is a provider of dairy products intended to provide fresh dairy desserts.

Bluebear is a provider of dairy products intended to provide fresh dairy desserts.

Founded in Huizhou – a third-tier city in Guangdong Province– in 2017, Xiongmao Cake provides a cake baking and delivering service with an ‘online order + warehouse journey’ model. In less than two years, the business quickly spread to 10 second- and third-tier cities across Guangdong, Fujian and Sichuan provinces.

Guoquan Shihui is a Chinese food supplier specializing in hot pot and barbecue ingredients. It operates both B2B and B2C models, offering a wide range of products including casual snacks, fresh food, and ready-to-eat meals through its offline stores and online platform.

T11 Food Market operates a retail supermarket that provides fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance supply chain operations, ensuring the delivery of high-quality fresh food products. By combining online accessibility with offline shopping experiences, T11 Food Market aims to offer customers a safe and efficient way to obtain fresh groceries.

Jijixian is a fresh produce e-commerce and delivery service provider based in Wuhan, China. The company specializes in offering a wide range of grocery products, including fruits, vegetables, meat, eggs, seafood, grains, and seasonings. Jijixian is known for its efficient logistics, featuring a 30-minute fast delivery service that caters to the needs of consumers looking for convenient access to fresh food. Through its platform, Jijixian aims to enhance the shopping experience for customers seeking quality produce delivered directly to their doorstep.

Shengxianchuanqi is a fresh food chain supermarket that mainly provides customers with fresh food and kitchen merchandise.

Letus Legend, established in 2015 and based in Hefei, China, operates a chain of supermarkets specializing in the sale of fresh food and kitchen supplies. The company also offers an online application for purchasing its products and provides home delivery services to enhance customer convenience.

T11 Food Market operates a retail supermarket that provides fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance supply chain operations, ensuring the delivery of high-quality fresh food products. By combining online accessibility with offline shopping experiences, T11 Food Market aims to offer customers a safe and efficient way to obtain fresh groceries.

Vingoo Juice is a company that specializes in creating innovative, autonomous machines for producing fresh orange juice, primarily targeting the community market in China. These machines employ a whole fruit extraction method, which maximizes juice yield from each orange, ensuring customers receive enhanced value for their purchases. By integrating advanced technologies such as cloud computing, artificial intelligence, and mobile payment systems, Vingoo Juice significantly enhances the consumer experience, making the process of obtaining fresh juice more convenient and efficient.

Beijing ZaiLouXia Technology Co., Ltd. operates an unmanned convenience store that specializes in offering a range of products, including snacks, fresh produce, and groceries. The company has also developed a public refrigerator aimed at enhancing the quality of life for individuals by providing a safe and reliable food supply chain. This innovative refrigerator facilitates self-service shopping, reduces delivery and packaging costs, and enhances community security. By focusing on convenience and accessibility, ZaiLouXia enables customers to easily purchase fresh food products, contributing to a more efficient and sustainable shopping experience.

LePur is a hand-made yogurt brand established in 2015, focused on promoting a healthy lifestyle through its range of high-quality yogurt products. The company offers a variety of innovative flavors, including high-protein Greek yogurt and cereal, all crafted from fresh dairy and natural ingredients sourced globally. LePur prioritizes the use of genuine ingredients to enhance the purity and healthfulness of its offerings. By leveraging advanced cold chain logistics technology, the brand ensures that its products maintain their freshness and quality, allowing consumers to enjoy a wholesome yogurt experience.

Guangzhou Green Natural Ecological Agriculture introduces soilless vegetable and fruit planting, as well as soilless planting bases. Their continuous research and development of soilless planting technology has accumulated a number of intellectual property rights in the field of soilless vegetable planting and accumulated knowledge and experience in soilless planting greenhouse design, water and fertilizer formulas, and production management.

SoupMaster is a Chinese restaurant chain and retail brand. It provides various nutritious soups for pregnant women, patients with a demand for health recuperation, and other people pursuing high-quality life.

Mobile Go is a startup focused on enhancing the ride-sharing experience by providing in-car snack and drink services. The company places snack boxes in vehicles, allowing passengers to conveniently purchase refreshments during their rides. This service not only improves the overall rider experience but also offers drivers an additional source of revenue. By integrating snack options into the ride-sharing environment, Mobile Go aims to create a more enjoyable and satisfying journey for passengers while supporting drivers financially.

SoupMaster is a Chinese restaurant chain and retail brand. It provides various nutritious soups for pregnant women, patients with a demand for health recuperation, and other people pursuing high-quality life.

Meituan is a Beijing-based Chinese technology platform that combines on-demand food delivery, local commerce, and social shopping. It retails and delivers Chinese food from local restaurants online and operates a social commerce website offering online group discounts for food, groceries, tickets, and other services, including entertainment and health/fitness sectors. Meituan is described as the largest food delivery platform in China, with a market share of roughly 60-70% in 2024 according to Morningstar estimates. In the third quarter of 2024, about 74% of revenue came from the core local commerce segment, encompassing on-demand food delivery, retail and in-store services such as visits to beauty and entertainment venues after purchasing deals, and hotel and travel booking, while the remaining 26% came from newer initiatives like Meituan Select and overseas food delivery. The company originated as Meituan Group in 2010, became Meituan-Dianping in 2015, and rebranded to Meituan in 2020.

Epet is a chinese e-commerce platform that sells pet-related food products and other services.

HeyTea is a Chinese tea shop that focuses on innovative beverages, particularly cheese-topped tea and fruit tea. Founded in 2012 in an alley by the riverside, the company initially operated under the name ROYALTEA before rebranding to HEYTEA. The franchise offers a diverse range of products, including instant milk tea, fruit tea, and traditional Chinese tea, aimed at providing customers with unique flavor combinations. Through its distinct offerings, HeyTea has established itself as a prominent player in the tea beverage market.

Dmall is a cloud-based, end-to-end SaaS platform for local retailers and brand owners in China and Asia. Its offerings include a retail core service cloud, an e-commerce service cloud, and a marketing and advertising service cloud, all designed to improve operations, sales, and customer experiences. Built on Dmall OS and AIoT, the platform provides integrated data insights across retail activities to guide actionable improvements. The three clouds work together to deliver a one-stop solution for streamlined operations, commerce, and marketing. Dmall is positioned as a leader in retail digitalization, addressing core needs such as upgrading consumer experience, increasing operational efficiency, safeguarding system security, and supporting ESG responsibilities.

HeyTea is a Chinese tea shop that focuses on innovative beverages, particularly cheese-topped tea and fruit tea. Founded in 2012 in an alley by the riverside, the company initially operated under the name ROYALTEA before rebranding to HEYTEA. The franchise offers a diverse range of products, including instant milk tea, fruit tea, and traditional Chinese tea, aimed at providing customers with unique flavor combinations. Through its distinct offerings, HeyTea has established itself as a prominent player in the tea beverage market.

Inagora Inc. is a cross-border e-commerce company based in Minato, Japan, founded in 2014. It develops a platform that facilitates the sale of Japanese products, primarily to a Chinese customer base, through its mobile application Wando. The platform aids Japanese companies in connecting with overseas customers and simplifies cross-border transactions by addressing currency risks and providing logistics support. Inagora's online marketplace, Wandou, features approximately 40,000 products, emphasizing categories such as cosmetics, clothing, and food, and serves around 3 million users. The company is dedicated to enhancing the accessibility of Japanese goods in international markets.

LePur is a hand-made yogurt brand established in 2015, focused on promoting a healthy lifestyle through its range of high-quality yogurt products. The company offers a variety of innovative flavors, including high-protein Greek yogurt and cereal, all crafted from fresh dairy and natural ingredients sourced globally. LePur prioritizes the use of genuine ingredients to enhance the purity and healthfulness of its offerings. By leveraging advanced cold chain logistics technology, the brand ensures that its products maintain their freshness and quality, allowing consumers to enjoy a wholesome yogurt experience.

Consumer

Ricebook (饭本) is an application focused on searching for resturants, based on social relations. Users can check comments on restaurants or share them with friends by getting linked to social platforms like weibo, renren, and more. Ricebook has functions where users can gather information on restaurants, review, and share thoughts via social networking.

Linjia.me is a private company that offers food delivery services through online ordering.

SexySalad is an app that provides salad and delivery services in China.

Shandong Songqiao Restaurant Management is a business fast food manufacturer and group meal management service. They operate collective restaurants for schools, institutions, enterprises, and institutions. Their research and development services available on the domestic cold chain fast food industry.

YAMI Network is focused on establishing China's largest high-end food and beverage trading platform. The company has developed an application platform that offers customized meal event services, allowing users to submit requests for meal events. Upon receiving a request, YAMI Network arranges for a chef to prepare and serve a high-quality meal, providing customers with a convenient way to enjoy gourmet dining experiences. Through its innovative approach, the company aims to cater to the growing demand for premium culinary services in China.

Linjia.me is a private company that offers food delivery services through online ordering.

SexySalad is an app that provides salad and delivery services in China.

Dmall is a cloud-based, end-to-end SaaS platform for local retailers and brand owners in China and Asia. Its offerings include a retail core service cloud, an e-commerce service cloud, and a marketing and advertising service cloud, all designed to improve operations, sales, and customer experiences. Built on Dmall OS and AIoT, the platform provides integrated data insights across retail activities to guide actionable improvements. The three clouds work together to deliver a one-stop solution for streamlined operations, commerce, and marketing. Dmall is positioned as a leader in retail digitalization, addressing core needs such as upgrading consumer experience, increasing operational efficiency, safeguarding system security, and supporting ESG responsibilities.

Baman Beef Powder, formerly known as Funiutang or F.N.T, is an online-to-offline brand that focuses on Hunan beef noodles and instant beef powder. The company markets its products through online channels while also running restaurants in Beijing, providing customers with both packaged goods and dining experiences.

Womai is a B2C online grocery store based in China, founded in 2008 by the COFCO Corporation, a leader in the agricultural and food products sector. The platform specializes in healthy food options, offering a variety of grocery and household items essential for daily living. By providing a convenient shopping experience, Womai enables customers to purchase nutritious food and household products online, saving them time and effort. The company's commitment to fostering healthy lifestyles aligns with COFCO’s mission of utilizing renewable natural resources to enhance the quality of life and promote societal well-being.

Ricebook (饭本) is an application focused on searching for resturants, based on social relations. Users can check comments on restaurants or share them with friends by getting linked to social platforms like weibo, renren, and more. Ricebook has functions where users can gather information on restaurants, review, and share thoughts via social networking.

Three Squirrels Inc., founded in 2012 and headquartered in Wuhu, China, specializes in the production and distribution of casual snacks, including nuts, dried fruits, meat clams, and puffed products. The company operates through both online and offline channels, adopting a new food retail model that enhances direct interactions between businesses and consumers. It has achieved notable success in the Chinese snack market, topping nut sales on platforms like Taobao Tmall shortly after its inception, with sales reaching nearly 8 million units in its first year. Three Squirrels focuses on research and development, as well as private label snack food packaging and sales, positioning itself as a significant player in the forest food sector.

Chinese sorghum spirit producer from Chongqing. Specializing in innovated light-aroma baijius with creative presentation.

China Quanjude (Group) Company is a prominent player in the foodservice industry, known for its comprehensive restaurant services and catering operations. The company specializes in the production and sale of a variety of food products, particularly its renowned Quanjude vacuum-packaged roast duck and related cooked food items, such as lotus leaf cake and sweet noodle sauce. Additionally, it provides essential accessories for roast duck, catering to the holiday consumer market. The company also emphasizes convenience through its online shopping platform, offering a range of products including roasting materials, fruit wood, and fuel.

Three Squirrels Inc., founded in 2012 and headquartered in Wuhu, China, specializes in the production and distribution of casual snacks, including nuts, dried fruits, meat clams, and puffed products. The company operates through both online and offline channels, adopting a new food retail model that enhances direct interactions between businesses and consumers. It has achieved notable success in the Chinese snack market, topping nut sales on platforms like Taobao Tmall shortly after its inception, with sales reaching nearly 8 million units in its first year. Three Squirrels focuses on research and development, as well as private label snack food packaging and sales, positioning itself as a significant player in the forest food sector.

Xin Peptide Biotechnology provides insect protein feed for animals and insect protein food for human beings. At present, the company has fully mastered a complete set of technologies and production processes for fly maggot farming and insect protein industrialization and has a number of related invention patents for insect farming.

Hubei Zhou Heiya Food specializes in the deep processing of the cooked and stewed food, such as duck, goose, and duck by-products as well as vegetarian products. Zhou Fuyu founded the Zhou Heiya in 1997, and applied for the registration of the Zhou Heiya brand in 2004. He then submitted the trademark application of ""Zhou Heiya"" to the National Industry and Trademark Office in 2005. He then founded the Wuhan Century Zhou Heiya Food Limited Company in 2006 and established a new milestone in 2007. In 2008, he changed the name to Hubei Zhou Heiya Food Limited Company. In 2009, Zhou Fuyu’s company obtained the title of a ‘Wuhan famous brand product’ and one of the ten best employers. Zhou Heiya expanded its market in the big cities from 2010 to 2012.

Three Squirrels Inc., founded in 2012 and headquartered in Wuhu, China, specializes in the production and distribution of casual snacks, including nuts, dried fruits, meat clams, and puffed products. The company operates through both online and offline channels, adopting a new food retail model that enhances direct interactions between businesses and consumers. It has achieved notable success in the Chinese snack market, topping nut sales on platforms like Taobao Tmall shortly after its inception, with sales reaching nearly 8 million units in its first year. Three Squirrels focuses on research and development, as well as private label snack food packaging and sales, positioning itself as a significant player in the forest food sector.

Tenfu Corporation, founded by Mr. Lee Rie-Ho, is a private label tea company based in the People’s Republic of China. It specializes in the marketing and sale of a wide array of tea products, including green tea, black tea, oolong tea, scented tea, white tea, and tea snacks. The company also focuses on developing innovative product concepts, flavors, and packaging designs through its subsidiaries. Tenfu's primary revenue comes from its Tea leaves segment, reflecting its strong position in the Chinese tea market. Through its diverse product offerings, Tenfu aims to cater to the evolving preferences of tea consumers.

LEASUN FOOD is a canned enterprise, focusing on the manufacturing and innovation of high-temperature sterilized canned food.

Tenfu Corporation, founded by Mr. Lee Rie-Ho, is a private label tea company based in the People’s Republic of China. It specializes in the marketing and sale of a wide array of tea products, including green tea, black tea, oolong tea, scented tea, white tea, and tea snacks. The company also focuses on developing innovative product concepts, flavors, and packaging designs through its subsidiaries. Tenfu's primary revenue comes from its Tea leaves segment, reflecting its strong position in the Chinese tea market. Through its diverse product offerings, Tenfu aims to cater to the evolving preferences of tea consumers.

Jiumaojiu is a Chinese restaurant operator specializing in multi-brand dining experiences. Established in 2015, the company generates significant revenue from its popular Tai Er chain, known for its signature sauerkraut fish dish. With over 600 outlets nationwide by 2024, Tai Er caters primarily to the post-1990s generation. Jiumaojiu's portfolio also includes the namesake brand 'Jiu Mao Jiu', Song Hotpot, Lai Mei Li, and Shanwaimian, offering a variety of Chinese cuisines.

Chamate is a modern metropolitan tea catering service provider focused on promoting Taiwanese cuisine and tea. Chamate opened their first restaurant in 2002 in Shanghai and later expanded to Beijing, Hangzhou, Nanjing, Suzhou, Shenyang, Shenzhen, Guangzhou, Ningbo, Wuxi, Yiwu, Changzhou, Wuhan and Tianjin. As of August 2011, there are about 100 stores in all major Cities across China.

Chamate is a modern metropolitan tea catering service provider focused on promoting Taiwanese cuisine and tea. Chamate opened their first restaurant in 2002 in Shanghai and later expanded to Beijing, Hangzhou, Nanjing, Suzhou, Shenyang, Shenzhen, Guangzhou, Ningbo, Wuxi, Yiwu, Changzhou, Wuhan and Tianjin. As of August 2011, there are about 100 stores in all major Cities across China.

Chamate is a modern metropolitan tea catering service provider focused on promoting Taiwanese cuisine and tea. Chamate opened their first restaurant in 2002 in Shanghai and later expanded to Beijing, Hangzhou, Nanjing, Suzhou, Shenyang, Shenzhen, Guangzhou, Ningbo, Wuxi, Yiwu, Changzhou, Wuhan and Tianjin. As of August 2011, there are about 100 stores in all major Cities across China.

Tavolo offers an online store that enables its users to find and buy products related to cooking. Tavolo was acquired by OurHouse in December 2000. It is based in San Rafael, California.