Chinese Snack Chain Brand Snack Is Busy Nets $37M From Sequoia Capital China And Gaorong Capital

Chinese snack chain brand Snack Is Busy has secured 240 million yuan ($37 million) in a Series A round of
financing co-led by Sequoia Capital China and TMT-focused Gaorong Capital, according to a company statement.

 The round was joined by new GenBridge Capital and Maxceed Capital.

 The emerging brand is planning to use the proceeds for market expansion across China and to spruce up marketing
and branding efforts.

 Snack Is Busy claims that it has a network of over 450 franchise stores. China’s market size for snack business is
expected to reach 4 trillion yuan ($619 billion) by 2024, the company said in the statement citing statistics from the
Ministry of Commerce.

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