Chinese Beverage Brand Coco100 Bags Over CNY 10 Mn in Series A Round

Consumer Staples Author: Peilin He, Xinyue Li Editor: Yiran Xing Feb 01, 2023 06:23 PM (GMT+8)

Healthier beverages are popular as consumers become more health-conscious. Coco100's sales in 2022 increased nearly fivefold compared to that of 2021.


The Coco Company, owner of Chinese coconut lifestyle brand Coco100 (Chinese: 可可满分) completed a Series A funding round on January 30, raising over CNY 10 million from listed company Jiamei Packaging (Chinese: 嘉美包装, SZ:002969). Palm Capital (Chineses: 棕榈资本) was the exclusive financial advisor.

Fang Naicheng, the founder of Coco100, said that the proceeds will be put into product development, supply chain management and brand building.

It is worth mentioning that Jiamei Packaging,  the investor of this round, is also one of the main OEMs that Coco100 collaborates with. The two are expected to have more business cooperation in the future.

Coco100 was established in October 2020. It developed unsweetened coconut milk and successfully broke into the coconut-based beverage market. In 2022, Coco100 continued to invest in coconut product innovation and launched 100% freshly squeezed coconut water, thick coconut milk 2.0, mini-size Coco100, and heated 0 sugar coconut milk which is only sold on offline channels.

Coco100 completed a series A funding round in September 2022. Cograin (Chinese: 佳禾食品, SH:605300) was the lead investor, followed by One Capital (Chinese: 壹叁资本).

Ssimo, the co-founder of Coco100, said that the company expanded distribution channels and saw rapid growth in sales in 2022. It plans to invest more in branding in 2023. In addition to the convenience stores that it is working with, Coco100 plans to expand offline channels such as restaurants, supermarkets, gyms and light food stores.