On July 15, Xinrui Chaoshan flavor food company "Xianwei Grandpa" announced the completion of 60 million RMB Pre-A round financing, led by Source Capital, followed by Hillhouse Venture Capital. This round of financing will be used for product research and development, supply chain improvement and talent system construction.

Xianwei Grandpa was founded in 2020, originated in Chaozhou, focusing on the development and promotion of Chaoshan cuisine, and striving to occupy the minds of users with "fresh" advanced flavor. At present, Chaoshan flavor products such as fat master large pieces of beef sauce and fat master mountain jam have been launched, as well as Chaozhou XO sauce, sand tea sauce, "fried garlic sauce", "fried spring onion sauce" and other typical Chaoshan characteristic seasonings and Chaoshan flavor snacks-lemon oil mandarin boneless chicken feet will also be put on the line soon, and then there will be layout of stewed products and prefabricated dishes.

She Yangjie, director of source capital, said: "Chaoshan flavor has the characteristics of delicious, multi-level and rich taste, which can form a unique memory point in the hearts of consumers." Due to the past supply chain maturity, logistics level and team capability model and other reasons, a large number of Chaoshan cuisine is in a corner and can not get out of the Chaoshan area. Grandpa Xianwei has extremely high requirements for products, starting from compound condiments, gradually expanding to leisure snacks, meals, prepared dishes and other categories, pushing Chaoshan flavor to the whole country. Look forward to the team to continue to bring people delicious products! "

Chen Xiang, founder of Xianwei Grandpa, said: "Xianwei Grandpa chose to cut into the market from the field of compound condiments, hoping to present the extremely delicious Chaoshan flavor to users through the combination of fresh and diverse ingredients and the ancient technology of Chaoshan. After this wave of financing, the company will also develop in the direction of stewed products and prefabricated dishes in the future, through continuous research and development of products, improve the supply chain system, and let the best cuisine in China enter thousands of households. "

It is worth noting that as a rare food company with compound seasonings, lo mei and prepared dishes at the same time, Grandpa Xianwei has been favored by many capitals in the financing process.

In the end, Grandpa Xianwei chose Source Capital and Hillhouse Venture Capital as partners. Chen Xiang told China Investment Network that the two institutions are consistent with the concept of Xianwei Grandpa, have a very deep understanding of new consumption, and have broadened their horizons, which is equivalent to "standing on the shoulders of giants." they have an excellent understanding of the domestic and even international markets. we can form a very good complementary advantages.

Of course, you should also like our products.

Synchronous layout of the three major tracks

In the past year, compound seasoning has gradually become hot in the capital market.

Especially in the past six months, including Hillhouse Venture Capital, IDG, Deep Venture Capital, Challenger Capital, Qianfeng Evergreen, Qingliu Capital, Castle Peak Capital and so on, more than 10 institutions have joined the compound seasoning track.

"Food is the most important thing for the people", the compound condiment has quietly come to the scale of hundreds of billions of people. Frost Sullivan data show that the size of China's composite seasoning market in 2020 is about 150 billion yuan, with an annual compound growth rate of about 15.83%. The growth rate is higher than that of the industry and there is still a lot of room for improvement-according to Euromonitior data, the penetration rates of compound condiments in the United States and Japan are 73.39% and 59.32% respectively, while those in China are only 26%.

It is worth noting that in addition to the layout of compound seasoning, Grandpa Xianwei also laid out halogen products and prefabricated food racing track, which is a relatively rare way to play in the entrepreneurial market at this stage.

Asked about the strategy of laying out three subdivided tracks at the same time, Chen Xiang told Chuanzhong.com that Grandpa Xianwei has to do a whole set of taste upgrades, all the three tracks are involved, and all the infrastructure will be built on their own. at present, they have built their own flexible supply chain processing plant, coupled with the deep ODM investment production line, which can basically achieve more than 85% reduction of handicrafts.

Xianwei Grandpa also revealed to Touzhong that after this round of financing, it will open the expansion of halogen products and prefabricated vegetable product lines.

At present, Xianwei Grandpa's main marketing position is focused on shaking fast, Little Red Book and other platforms, a large number of users after trying the product through a short video to spontaneously recommend. Delicious food is very suitable to be presented in the form of video. Grandpa Xianwei will not be released in batches, but an online test to observe the feedback of portraits of different people, and then test the production capacity after magnifying the demand, and so on.

Break the "isolated island of gourmet food" in Chaoshan

Grandpa Xianwei, a food company with deep Chaoshan gene.

The founding team is also an authentic Chaoshan people. Founder & CEO Chen Xiang, who graduated from the University of California, Berkeley, is the first vice president of Chaozhou Chef Association and vice president of Guangdong Food Industry Association. Co-founder Chen Huaibo has a master's degree from the University of Hong Kong and has many years of experience in supply chain consulting and investment management.

Chen Xiang is a continuous entrepreneur, but the founder of Xianwei Grandpa is not on a whim, but "has been planning for a long time".

As an authentic native of Chaoshan, Chen Xiang lived in delicious food since childhood, coupled with the influence of his family, and finally embarked on the "road of no return" of gourmet.

When he was a child, he recalled, his father used to drive his family to a restaurant for an hour or two and study how to cook when he got home. After studying abroad alone, I deeply missed the taste of my hometown. After cooking, I also made a gourmet official account and shared Chaozhou recipes, which not only comforted my homesick stomach, but also gained a lot of friends in a foreign country. Many years later, Chen Xiang finally became the first vice president of Chaozhou Chef Association.

In his view, as Chen Xiaoqing, director of "China on the tongue" said, "Chaoshan is an isolated island of Chinese cuisine."

Chen Xiang said bluntly to Touzhong net: "in recent years, casserole porridge opened all over the country, including Nai Xue's oil citrus juice, Huangpi Xianlu that likes tea, Uncle Qiu's duck shit fragrant lemon tea, and so on, all originated from Chaoshan. There's a good saying. "World cuisine looks at China, Chinese cuisine looks at Chaoshan", in my eyes, Chaoshan cuisine is the senior representative of Italian and French cuisine. ".

With the development of the food industry, the evolution of consumption channels, and the accumulation of experience in starting a consumer goods business for many years, Chen Xiang decided to establish a Xianwei grandfather to pass on the extremely delicious Chaoshan flavor to more consumers.

Grandpa Xianwei first cut into the market from compound seasoning, taking fat chunks of beef sauce as an example. In order to restore the original taste of the ingredients, select high-quality beef hind leg meat, through the combination of different regions and different kinds of ingredients, to fully set off the fresh flavor of the staple beef, and use modern equipment to completely reproduce the ancient technology of Chaoshan. Finally, it brings users the experience of extremely delicious taste buds.

In Chen Xiang's eyes, there is no difference between fast and slow food companies, only good and bad. "delicious food is objective, and consumers should remember it for a long time and pay for it. This is the most important thing, especially because capital is burning fast, regardless of whether the food is good or bad. "

Talking about why Grandpa Xianwei is so popular with capital, Chen Xiang told Chuanzhong.com: "in addition to the good scene and good products, the founder (himself) loves food and has deep research in food, which is very important. But what is more important is the original intention of setting up the company. I hope to carry forward the cuisine in my hometown. "

"I've been fond of doing gourmet food since I was a child. After founding Grandpa Xianwei, almost all my friends said to me, you are so suitable, that's what you should do.