Welcome!

Wireless Authors: Shelly Palmer, Kevin Benedict, Carmen Gonzalez, Roger Strukhoff, Peter Silva

News Feed Item

Taiwanese Quick Service Restaurant, YPX Cayman Completes Third Round of Financing

Company continues to build a large F&B platform with Series C funding

SHANGHAI, Nov. 9, 2012 /PRNewswire/ -- YPX Cayman Holdings Co., Ltd. (http://www.ypxfood.com) announced today the closing of its third round of fundraising of US $ 11.5 million, which bring the total financing raised in the last two months to US $18 million. LionRock Capital served as the lead investor for the latest financing round, with follow-on investments from Qiming Venture Partners, and Ignition Capital. YPX has also recently received additional equity funding from Mitsui Global Ventures, Hotung Venture, and renowned entrepreneurs such as former DBS Bank and Singapore Airlines Chairman Mr. Koh Boon Hwee and Nasdaq-listed 51Job.com founders Mr. Norman Lui and Mr. Michael Feng Yunlei. In addition, YPX also secured a US $ 2.5 million venture debt financing from Western Technology Investment, a Silicon Valley based firm that financed Facebook and Google in their very early days. With this fresh funding, YPX Cayman will quickly open more stores within the Eastern and Northern parts of China; keeping close to its strategy of building a large fast casual food and beverage (F&B) chain platform.

YPX built its first store in Dec 2010, and ever since then, the Company has been growing rapidly. During this time, YPX has also invested heavily in its operational infrastructure, IT systems and human resources in order to achieve a sustainable and healthy growth. By end of 2012 YPX will have 30 Cloud 9 stores in Shanghai, Hangzhou, Nanjing, Changzhou, Hefei, Beijing and Tianjin. Key factors in being able to achieve this growth are due to YPX's simplicity in execution, scientific approach to menu engineering, and high quality of employee training. Over the next 2 years, YPX aims to open at least another 90 stores throughout China, and become one of the fastest growing quick service restaurant brands in China.

(Photo: http://photos.prnewswire.com/prnh/20121109/CN09753)

"With this new round of funding, YPX is now poised to take on a larger territory in China. Our goal is to open in territories that we never could have gotten into earlier. With the internal economy still growing and consumers are gravitating towards more value-for-money food fare, we want to take advantage of current tail wind. As we grow, we have to strengthen our infrastructure such as IT, Training, Product Development and hiring of more talents. No chain store business can grow profitably without a solid infrastructure and a good pool of talents. Ultimately, our objective is to provide good value food that is fresh, safe and tasty at a very affordable price proposition. There should be No Bad Meal each time you eat in Cloud 9. And that in turn will build a sustainable business that eventually will provide great returns to our investors and employees. Our focus is on our staff members. Each one is a family member and will be treated as such. We want to be known to be an employer of choice in China, one that provides the best salaries and benefits and also the best environment. In YPX, we award stock options to our employees, our staff members come first. Only then can they take very good care of our valued customers," said YPX Cayman Founder and Chief Executive Officer Chris Tay.

Mr. Daniel Tseung, Managing Director of LionRock Capital, said: "LionRock Capital is pleased to lead this latest round of financing for YPX.  LionRock is impressed not only by YPX's rapid growth, but also by the company's talented senior management team, who each have over 20 years of experience in the Greater China food & beverage industry.  With its excellent quality but highly affordable food offerings and increasing popularity with Chinese consumers, YPX is well-positioned to establish itself as a leader in the rapidly-growing Chinese F&B industry. Combined with financial support, LionRock Capital will also provide YPX with access to its extensive network of leading entrepreneurs who will assist in further accelerating YPX's strong rapid growth."

Mr. Hans Tung, Managing Partner of Qiming Venture Partners Beijing office and Vice Chairman of YPX Cayman, said: "We are the first investor who backed Chris and co-developed the concept of YPX from Day 1 and have invested in every round since. We believe in Chris and his team to build a "platform company" in a traditional restaurant business. I think YPX has a chance to accomplish something special and one that is disruptive in the F&B world, just as my other investments in Xiaomi has done for smartphone and VANCL for fashion apparel. Chris is an extraordinary entrepreneur and has recruited and built an incredible team."

John Zagula, MD of Ignition says, "With so much of China's future growth being led by consumers, we consider ourselves very privileged to invest in a team with the leadership, experience and operating philosophy needed to meet the growing demands of such consumers in their category.  And we are doubly privileged to have been able to invest alongside such prestigious and strategically value-added investors."

Mr. Koh Boon Hwee, an angel investor from Singapore, and over the course of his career led many public and private companies, says: "China's domestic economy is transforming rapidly, and my investment in YPX Cayman gives me a ringside seat in witnessing the rise of domestic consumption in this huge country.  I am confident that YPX Cayman will build out its network of restaurants with this new round of funding."

David Tso, Vice President of Hotung, says: "Hotung invested in YPX since 2011 and have made a follow-on investment this year as a vote of confidence. As China's QSR (quick service restaurant) / FCR (fast casual restaurant) market is huge, YPX will enjoy an amazing growth potential via its proven model for profitability and scalability in the years to come. We are very impressed by YPX's professional management system. And combined with a very experienced international and transparent management team, YPX has achieved all these in just 2 years; sort of a record. Looking forward, we are confident that YPX will catch up with its peers and become the market leader in the China QSR/FCR market."

Mr. Shunsuke Masaki, Head of Consumer Investment, Mitsui Global Investment, added: "By seeing rapid change of urban lifestyle in China, I am confident that the demand on high quality retail services will keep growing in the future. YPX's management team has already proved its ability to address such demand by delivering a number of innovations. This can't be done without its operational acumen and tireless efforts."

Maurice Werdegar, Managing Director of Western Technology Investment, says: "We are excited to be working with YPX.  The team's proven ability to create value in the F&B market gave us confidence in the YPX concept and we look forward to helping them grow into a successful company."

About YPX Cayman Holdings Co., Ltd.

Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual (F&B) chain in China. CLOUD 9, the company's first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 30 stores in Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, Hefei etc., and continues to open new stores in China. The company's management team, with a combined of over 80 years of experience in the F&B chain management, continuously improves their standard and management level, valuing quality as their first goal. The company aims to establish a large platform in the casual F&B chain in China.

About LionRock Capital

LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. LionRock is supported by some of the world's most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock's investee companies and investment partners.

LionRock seeks to build active, value-added, long-term relationships with company management teams and investors. LionRock's Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. LionRock's team of seasoned Asian professionals have a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond."

About Qiming Venture Partners

With offices in Shanghai, Beijing and Hong Kong as well as the Seattle, Qiming Venture Partners manages funds exceeding US$1 billion and is dedicated to investing in the high-growth promising enterprises in China. The company invested and successfully nurtured these companies to IPO: Jiayuan, ChinaCache, Taomee, Tiger Medical and Leo Pharmaceutical. It has investments also in category leaders like VANCL, Xiaomi Mobile, eHi Car Rental, Forgame, Jiayuan, PPS TV, Dianping, Mougujie, AllTech Medical, Gan & Lee Pharmaceutical, and Arrail Dental.

About Ignition Capital

Ignition Capital is the growth equity arm of a $2.5 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 12 years, we've been honored to work with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. We have seen our companies deal with difficult economic situations, grow dramatically and either become public companies or get sold to larger market leaders.

About Mitsui Global Investment

Mitsui Global Investment, a wholly-owned subsidiary of Mitsui, focuses on investing in high growth enterprises worldwide. Headquartered in Tokyo, the company has set up offices in Beijing, Shanghai, Silicon Valley and New York and has built a network covering Japan, the US and China. With its global network and resources, Mitsui Global Investment helps its portfolios expand in overseas markets by providing them with strong cross-sector, cross-border support. Mitsui Global Investment's investments in China include iSoftStone, Prudent Energy and Ftuan.

About Hotung Venture Capital

Hotung Investment Holdings Ltd, a venture capital firm with operations in Taiwan, the US and China, was incorporated in March 1997 and has been listed on the Main Board of SGX-ST since August 1997. It is the first and only Taiwan venture capital firm listed on the Singapore Exchange.

About Mr. Koh Boon Hwee

Koh Boon Hwee, DUBC, holds a first class honours degree in mechanical engineering from the Imperial College of Science and Technology, University of London, and an MBA (Distinction) from the Harvard Business School. He is also an alumnus of St Andrew's School.Koh was appointed Chairman of the Singapore Telecom Group in 1986 and then joined the Singapore Airlines board in March 2001.Among other board appointments, Koh served as Chairman of the SIA Engineering Company; a Director of Agilent Technologies Inc, [Four Soft Ltd] and Norelco UMS Holdings Limited; Executive Director of Media Ring Limited and Tech Group Asia Limited. He serves on the boards of several private companies, including Temasek Holdings (Private) Limited as a Director; AAC Acoustic Technologies Holdings Ltd and Infiniti Solutions Private Limited. He is also a Council Member of the Singapore Business Federation.

On 1 January 2006, Koh became chairman of DBS Bank. He joined DBS as a director on 15 June 2005. The list of Koh Boon Hwee's accomplishment goes on - his chairmanship of the Nanyang Technological University Council; aviation giant Singapore Airlines; and his appointment to the national Economic Committee in the recession of the 80s.

SOURCE YPX Cayman Holdings Co., Ltd

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArcho...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how thes...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) ir...
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn rea...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder ...
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other mach...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice s...
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehe...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example...