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(Yicai Global) Aug. 22 -- Hot & Hot, an online spicy crayfish and prepared food selling platform operated by Spicespirit.com, raised USD21 million (CNY140 million) in its recent round of financing led by Banyan Capital, followed by Matrix Partners China and N5 Capital.
Hot & Hot also has offline stores. It is expected to have 80 of them (with an average size of 60 square meters) and offer 100 kinds of items by the end of this year. The funds procured will mainly be used to open stores and optimize consumer data.
Founded in 2010, Hot & Hot boasts proprietary logistic chains. In addition to spicy crawfish, its principal products include take-away fresh braised foods, other spicy cooked foods and beer. Hot & Hot brought in CNY10 million in its previous round of financing last September.