Chinese technology-driven coffee chain Luckin Coffee has bagged $200 million in new funding round.
Luckin said that it will use the funds for product research and development, technological modernization and business advancement, and continue to optimize product and user experience.
Backers in the round include Singapore’s Government Investment Corporation, China International Capital Corporation alongside Joy Capital and Centrium Capital.
The financing round values Luckin at $2.2 billion. In July, the company fetched $200 million, valuing it at $1 billion.