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Jinjia Raises Series A Funding from Meridian Capital China

August 22, 2022
August 22, 2022
Kimtrue

Shanghai Jinjia Technology has raised significant Series A funding from Meridian Capital China, a leading venture capital company that specializes in the consumer and TMT sectors.

WHO: Shanghai Jinjia Technology (Jinjia) develops and markets several successful direct-to-consumer beauty brands in China including Kimtrue, Everbab, and Oncur. Based on strong in-house R&D, Kimtrue has become one of China's most popular C-beauty brands among Gen Z consumers.

IN THEIR OWN WORDS: Maggie Wang, founder of Jinjia Tech, said, "Jinjia operates through an array of brands rather than a single-brand approach, which allows us to meet various and changing demands from today's younger consumers. With the additional support from our investors, we hope to further strengthen our R&D capability, expand the product portfolio, and complete an omni-channel network via offline footprint expansion."

Anthony Siu, Partner, Co-Head of Shanghai, BDA, said, "We're delighted to have advised Jinjia on its successful fund raise. Jinjia successfully transformed from a Taobao Partner model to a branded business, leveraging strong R&D, brand development, and sales & marketing. We're honoured to represent Jinjia, and wish them continued success."

Lilian Gu, Director, BDA, said, "In an increasingly competitive beauty sector and capital raise market in China, this transaction has proved the value of R&D-driven brands, supported by high ROI-oriented marketing. Jinjia impressed investors not only by rapid revenue growth, but also strong profitability, rare for an emerging Chinese beauty brand.”

DETAILS:

  • Shanghai Jinjia Technology raised Series A funding from Meridian Capital China. 
  • Terms of the transaction were not released.
  • BDA was the exclusive financial advisor to Jinjia.
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