Boohee Health Completed Series D Financing

On May 26th, Shanghai Boohee Health Technology Co., Ltd. announced the completion of a Series D round of financing, mainly for Boohee Health’s working capital replenishment, and therefore Boohee Health is now valued over RMB 2 billion yuan (USD $310 million). In 2008, Boohee Health was officially established with the main function of “food database”. Suffering from losing money year after year, in 2015, Boohee Health gradually shifted its focus to meal replacement food, and launched its own brand of food represented by “Supermodel 25”, which was really profitable this year. According to Tmall statistics, the sales of meal replacement light food products in 2021 have increased by 290% year-on-year, the number of meal replacement consumers has increased by 78% in 3 years, and the per capita annual consumption amount has exceeded RMB 3,000 yuan (USD $470). (Source: news.qq)