HSG

HSG, formerly known as Sequoia Capital China, is a global venture capital and private equity firm, managing over USD 55 billion across various funds. Established in 2005, HSG invests in technology, healthcare, and consumer sectors, with a focus on seed, venture, growth, buyout, and infrastructure stages. The firm has backed over 1,500 companies, with more than 160 listed on public exchanges and over 140 achieving unicorn status. HSG operates globally, with offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo, and Singapore, providing extensive resources and industry expertise to its portfolio companies.

Rohit Agarwal

Managing Director

Mohit Bhatnagar

Managing Director

Wang Chenyu

Vice President

Sakshi Chopra

Managing Director

Raghavv Garg

Analyst

Pushpak Kedia

Vice President

Sunint Khurana

Analyst

Saksham Mittal

Analyst

Ishaan Mittal

Managing Director

Abhishek Mohan

Principal

Javier Ng

Associate

Enita Pu

Partner

Wendy Qian

Analyst

Haim Sadger

Partner

Yoav Shaked

Partner

Johan Surani

Vice President

Vedant Trivedi

Associate

Aradhita Tuli

Investment Analyst

Pavel Vyhnalek

Operating Partner

Fu Xin

Partner

Past deals in HoReCa

Momos

Series A in 2024
Momos is a technology company focused on transforming the restaurant industry by providing a robust engagement platform tailored to modern dining establishments. Their cloud-based marketing and analytics tools empower restaurants to leverage data across various online channels, enhancing their operational efficiency and growth potential. By offering AI-powered automation for digital marketing, reputation management, and content management, Momos enables clients to gain valuable insights into their performance. This innovative approach helps restaurants navigate the digital landscape and optimize their revenue streams, ultimately modernizing the way food and beverage businesses operate.

Foodics

Series C in 2022
Foodics is a technology company based in AlKhobar, Saudi Arabia, founded in 2014. It specializes in developing a cloud-based restaurant management system designed for iPads, catering to the needs of restaurants, food trucks, cafes, and fast-food chains across the Middle East. The platform offers comprehensive solutions including point-of-sale transactions, inventory management, employee scheduling, loyalty programs, e-commerce integration, and real-time operational oversight through a user-friendly dashboard. Foodics aims to enhance revenue generation and customer relationships for its clients by providing high-tech, easy-to-use tools that streamline restaurant operations.

Rebel Foods

Series F in 2021
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Momos

Seed Round in 2021
Momos is a technology company focused on transforming the restaurant industry by providing a robust engagement platform tailored to modern dining establishments. Their cloud-based marketing and analytics tools empower restaurants to leverage data across various online channels, enhancing their operational efficiency and growth potential. By offering AI-powered automation for digital marketing, reputation management, and content management, Momos enables clients to gain valuable insights into their performance. This innovative approach helps restaurants navigate the digital landscape and optimize their revenue streams, ultimately modernizing the way food and beverage businesses operate.

Tim Hortons China

Venture Round in 2021
Tim Hortons China is a subsidiary of Tim Hortons Inc., established in 2018 and headquartered in Shanghai. The company operates a chain of coffee restaurants that serve a variety of coffee products alongside food offerings, including made-to-order shrimp sandwiches and salads. Tim Hortons China emphasizes customer service, addressing inquiries through multiple channels such as phone, email, and online applications. The company aims to provide a unique dining experience by blending coffee culture with fresh meal options in the Chinese market.

Saturnbird Coffee

Series B in 2020
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.

Hitomorrow

Series B in 2020
Hitomorrow is a Beijing-based company founded in 2012 that specializes in the import and distribution of ready-to-cook food products. The company offers a diverse range of fresh ingredients, including imported chilled beef, pork, chicken, and various flavored meats. Additionally, Hitomorrow sources seafood and other ingredients from around the world, including beef and mutton from Australia and New Zealand, Canadian Arctic shellfish, sweet shrimp, Alaska king crab, squid, and Argentine red shrimp. The company's focus on providing high-quality, fresh products aims to cater to the growing demand for convenient meal solutions globally.

Kopi Kenangan

Series B in 2020
Kopi Kenangan is a grab-and-go coffee chain based in Indonesia that aims to meet the growing demand for fresh coffee beverages in a country with low per capita coffee consumption, despite being one of the world's largest coffee exporters. The company focuses on providing authentic coffee blends sourced from various regions in Indonesia, complemented by organic palm sugar to enhance flavor. Its business model includes order-and-pickup and delivery options, allowing customers convenient access to a diverse range of freshly prepared coffee and other beverages at affordable prices. Through this approach, Kopi Kenangan seeks to cater to the evolving preferences of coffee consumers in the region.

Kopi Kenangan

Series A in 2019
Kopi Kenangan is a grab-and-go coffee chain based in Indonesia that aims to meet the growing demand for fresh coffee beverages in a country with low per capita coffee consumption, despite being one of the world's largest coffee exporters. The company focuses on providing authentic coffee blends sourced from various regions in Indonesia, complemented by organic palm sugar to enhance flavor. Its business model includes order-and-pickup and delivery options, allowing customers convenient access to a diverse range of freshly prepared coffee and other beverages at affordable prices. Through this approach, Kopi Kenangan seeks to cater to the evolving preferences of coffee consumers in the region.

Rebel Foods

Series D in 2019
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Rebel Foods

Debt Financing in 2019
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Moka

Series B in 2018
Moka is a Jakarta-based technology company that specializes in developing a cloud-based point-of-sale application and integrated card reader solutions for small and medium-sized businesses. Founded in 2014, Moka's application enables users to process payments via debit and credit cards while also providing features such as sales reporting across multiple outlets, inventory tracking, customer feedback collection, and analytics. The company offers a range of hardware, including Apple iPads, printers, cash drawers, barcode scanners, and mobile point-of-sale devices, catering to various sectors such as coffee shops, barbershops, retail stores, and restaurants, as well as mobile vendors like food trucks and kiosks. Moka operates on a subscription-based model, charging users a monthly fee that varies according to the number of locations they manage. This approach allows business owners to access real-time sales data stored in the cloud from any location.

Shiheng

Series B in 2018
Shiheng Inc. is a prominent provider of online catering management solutions based in Shanghai, China. The company employs over 500 people and serves a diverse clientele, including more than 300 well-known restaurant chains and numerous single-store brands across over 100 cities. Shiheng's comprehensive system offers a range of services from food design to digital marketing and enterprise resource planning, facilitating efficient management for users with large networks of stores. Its innovative approach enables the catering industry to enhance operational efficiency in a rapidly evolving digital landscape.

Rebel Foods

Series C in 2018
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Shiheng

Series A in 2018
Shiheng Inc. is a prominent provider of online catering management solutions based in Shanghai, China. The company employs over 500 people and serves a diverse clientele, including more than 300 well-known restaurant chains and numerous single-store brands across over 100 cities. Shiheng's comprehensive system offers a range of services from food design to digital marketing and enterprise resource planning, facilitating efficient management for users with large networks of stores. Its innovative approach enables the catering industry to enhance operational efficiency in a rapidly evolving digital landscape.

Zomato

Series H in 2017
Zomato is a global online platform that connects over 55 million users with restaurants across 24 countries. It offers a comprehensive restaurant guide, enabling users to discover, rate, and review eateries, as well as order meals for delivery or table reservations. The company also provides advertising and ingredient supply services to its restaurant partners.

Rebel Foods

Series C in 2017
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Rebel Foods

Series C in 2015
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Rebel Foods

Series B in 2015
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Yunhaiyao

Series A in 2012
Yunhaiyao is a cuisine restaurant brand that provides meat dish flavor food brands.

Rebel Foods

Series A in 2011
Rebel Foods is a prominent operator of cloud kitchens that specializes in delivering food on demand through a variety of in-house brands. The company combines culinary expertise with advanced technology to ensure high food quality and efficient delivery. Its innovative approach includes the use of dark kitchens, which allow for streamlined operations and expanded menu options. Rebel Foods offers a range of food brands catering to different consumer dining occasions, including the well-known FAASOS brand, which focuses on retail food provision and home delivery services. By prioritizing ingredient sourcing and preparation standards, Rebel Foods aims to enhance the overall dining experience for food enthusiasts.

Vivek uladi

Post in 2010
Country Style Cooking Restaurant Chain Co., Ltd ("CSC") is a fast-growing quick service restaurant ("QSR") chain in China, offering consistently tasty, everyday Chinese food to customers looking for fast and affordable quality meals. They are one of the market leaders in quick service restaurant chains in the Chongqing municipality in terms of number of restaurants as of March 31, 2010 and total sales in 2009, according to Euromonitor International, an independent market research firm. They also have a strong presence in the Sichuan province. The Chongqing municipality and Sichuan province cover a region of 110 million people in Southwest China, the home of Sichuan cuisine, one of the best-known Chinese regional cuisines.

Hintsoft

Series B in 2007
Hintsoft, also known as Shanghai Haoyi Software Technology Co., Ltd., is a professional internet cafe technology service provider focused on the management, R&D, and promotion of café maintaining systems. Hintsoft’s major product, “the Pubwin Series Internet Cafe Management Software,” has become a popular internet cafe system, accounting for more than 50% of the market share in China's internet cafe industry. In October 2008, it launched the network maintenance product, Xun Shan, which won the support of 30,000 internet bars within three months, and was selected as the most popular updated game software in internet bars in 2008 by the Annual Internet Bar Industry Report by World Network Associates. Hintsoft was founded in November 1998 as Shanghai New Haoyi Software.
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