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- Hefu Noodle
Hefu Noodle Valuation, Funding & Investors
Hefu Noodle is valued at $1B as of July 2021.
Last Hefu Noodle valuation
$1B
Series E · Jul 2021
Last Hefu Noodle funding round
$126M
Series E · Jul 2021
Cumulative funding Hefu Noodle raised
$251M
across 6 funding rounds
Key investors in Hefu Noodle
Longfor Group Holdings
Tencent
Meridian Capital Asia
Tengxun Touzi
CMC Capital Group
Huaying Capital
About Hefu Noodle
Hefu Noodle is a Hefei-based chain of noodle restaurants emphasizing Chinese-style high-end fast food concepts. The brand operates outlets serving hand-pulled noodles, rice dishes, and dim sum with premium ingredients sourced from regional suppliers in Anhui province, positioning itself as a leader in upscale quick-service dining across eastern China.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1B (Jul 2021)
Sectors
Hefu Noodle Valuation
Hefu Noodle is currently valued at $1B, based on its Series E in July 2021.
The $126M round was led by CMC Capital Group, with participation from Qianhai Zhongwei Capital, Longfor Group Holdings, Tengxun Touzi and ZWC Partners.
Hefu Noodle's valuation has grown 1.1x from $928M at its Series D in October 2020 to $1B in July 2021, across 2 priced rounds.
Hefu Noodle valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2021 | Series E | $1B |
| Oct 2020 | Series D | $928M |
Hefu Noodle Funding History
Hefu Noodle has raised a total of $251M across 6 funding rounds.
Hefu Noodle's first fundraising round was a $5M Series A in October 2015. The most recent completed round was a $126M Series E in July 2021.
Hefu Noodle funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series E | CMC Capital Group (lead); Qianhai Zhongwei Capital; Longfor Group Holdings; Tengxun Touzi; ZWC Partners | $126M | $1B | Hefu Noodle is a popular Chinese ramen and noodle chain founded in 2012 in Jiangsu Province, operated by Jiangsu Hefu Catering Management, known for its Chinese study-themed décor, signature noodles priced 30-50 yuan per bowl, targeting white-collar consumers in first- and second-tier cities. As of June 2021, it operated over 340 stores across 37 cities in 17 provinces, selling about 150,000 bowls daily, serving over 50 million customers annually, with plans to reach 450 outlets by year-end, expanding into second- and third-tier cities. The chain has raised funds across six rounds totaling around 1.645 billion yuan since 2015, focusing on brand building, supply chain improvements, digitization, new products, and nationwide expansion. In its July 2021 Series E round, Hefu Noodle raised 800 million yuan (approximately USD 123-124 million) led by CMC Capital, with participation from ZWC Partners, Tencent Investment (Tengxun Touzi), and Longfor Capital (Longfor Group Holdings), following a 450 million yuan Series D in November 2020 co-led by Tencent and Longfor. Sources report the post-money valuation reaching 7 billion yuan after this round, though one estimates 6.4 billion yuan. CMC Capital committed to aiding marketing via its media channels, while funds support industrial chain positioning and digital tech enhancements. The company has shown strong growth, with revenue increasing over 50% annually for recent years and average stores generating about 550,000 yuan monthly, though exact revenue or ARR figures are not specified. Hefu competes in China's burgeoning high-end fast-food noodle sector, with rivals like Haidilao and Jiumaojiu achieving successful IPOs in Hong Kong. Post-round, Hefu explored overseas listing amid tightening Chinese regulations, leveraging its rapid store growth to over 380 by early 2022. |
| Oct 2020 | Series D | Longfor Group Holdings (lead); Tencent (lead); Meridian Capital Asia; Huaying Capital; Meridian Capital | $67M | $928M | Hefu Noodle (also known as Hefu-Noodle), operated by Jiangsu Hefu Catering Management, is a popular Chinese fast-food chain founded in 2012, specializing in high-end Chinese-style noodles priced between 30-50 yuan per bowl, with brightly-lit stores featuring a signature Chinese study décor, primarily in first- and second-tier cities but expanding nationwide. The company completed its Series D round in late October or November 2020, raising 450 million yuan ($68 million), co-led by Tencent and Longfor Capital (Longfor Group Holdings' investment arm), with participation from Meridian Capital. Prior rounds included about 300 million yuan combined since 2015, a $31 million Series C-plus in mid-2019, $15 million Series C in 2017, $7.6 million Series B in 2016, and $4.7 million Series A in 2015 backed by investors like Wuhan Unity Asset Management and Wangju Capital. By mid-2021, Hefu Noodle operated over 340 stores across 37 cities in 17 provinces, selling about 150,000 bowls daily and serving over 50 million customers annually, with plans to reach 450 stores by year-end through rapid expansion into North, South, Central China, and lower-tier cities. The Series D funds supported this growth beyond its Shanghai roots in East China. In July 2021, it raised a record 800 million yuan ($123-124 million) Series E led by CMC Capital, with ZWC Partners and returning investors Tencent and Longfor, to enhance brand building, supply chain, product development, digitization, and marketing via CMC's media channels; this brought total funding to about CNY 1.25-1.3 billion. Investors since 2015 include over 10 entities like Huaying Capital, with Tencent investing twice. |
| Jul 2019 | Series C | - | $31M | - | Hefu Noodle (和府捞面), operated by Jiangsu Hefu Catering Management, is a high-end Chinese noodle restaurant chain known for its fast-serve but slow-dining model, signature chewy noodles, and bookstore-library decor, positioning itself as a potential 'Chinese Pizza Hut' with standardized products from a central kitchen costing CNY 10 million. The company completed its Series C+ funding round on July 3, 2019, raising CNY 215 million (USD 31 million) from undisclosed investors, amid a contracting consumer-facing investment market in China. This C+ round followed prior financings including approximately USD 4.7 million in Series A, USD 7.6 million in Series B, and USD 15 million in Series C, with total funding reaching around USD 129 million by later rounds. By late 2019, Hefu Noodle operated over 200 direct stores in major cities like Beijing, Shanghai, Guangzhou, and planned expansion into third- and fourth-tier cities and overseas markets, targeting high-end shopping centers. It had around 340-350 outlets by 2021, planning 450 by year-end, focusing on first- and second-tier cities before broader expansion. Later, in July 2021, Hefu Noodle raised CNY 800 million (USD 123-124 million) in a Series E round led by CMC Capital, with participation from Tencent Investment, Longfor Capital, and ZWC Partners, using funds for brand building, supply chain improvements, digitization, and marketing via CMC's media channels. Tencent and Longfor had co-led the prior D-round (CNY 450 million / USD 68.3 million) in September 2020. |
| Aug 2017 | Series C | Tiger Cub Funds; Juele Fund | $15M | - | - |
| Oct 2016 | Series B | - | $7M | - | Hefu Noodle, a Chinese noodle restaurant chain founded in 2012, raised approximately $7.6 million in a Series B round in 2016 from unspecified backers. This followed a $4.7 million Series A round in 2015 backed by Wuhan Unity Asset Management and Wangju Capital. The company operates brightly-lit shops offering noodles priced between 30 yuan and 50 yuan per bowl, targeting China's middle class with standardized, high-end fast food. Subsequent rounds included a Series D of 450 million yuan ($68 million) in November 2020 co-led by Tencent and Longfor Capital, and a Series E of 800 million yuan ($123-124 million) in July 2021 led by CMC Capital with participation from ZWC Partners, Tencent, and Longfor Capital. By mid-2021, Hefu Noodle operated over 340 stores across 37 cities in 17 provinces, selling 150,000 bowls daily and serving over 50 million customers annually, with plans to reach 450 stores by year-end. A 2019 Series C+ round raised 215 million yuan ($31 million). |
| Oct 2015 | Series A | - | $5M | - | Hefu Noodle, a Chinese fast-food chain specializing in noodles, completed a Series A funding round of 30 million yuan in August 2015. The company, founded in 2012, opened its first store in 2013 and has expanded rapidly with brightly-lit shops offering noodles priced between 30 and 50 yuan per bowl. It has raised funds in multiple rounds since 2015, including a Series D of 450 million yuan in November 2020 co-led by Tencent and Longfor Capital, and a Series E of 800 million yuan in July 2021 led by CMC Capital with participation from ZWC Partners, Tencent, and Longfor Capital. Hefu Noodle operates over 340 stores across 37 cities in 17 provinces as of June 2021, planning to reach 450 stores by year-end, and sells about 150,000 bowls daily while serving over 50 million customers annually. |
Who has invested in Hefu Noodle?
11 investors have backed Hefu Noodle across its funding rounds, including Longfor Group Holdings, Tencent, Meridian Capital Asia, Tengxun Touzi, CMC Capital Group and Huaying Capital.
Lead investors include CMC Capital Group, Longfor Group Holdings and Tencent.
Hefu Noodle Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2020 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Lead | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Lead | Jul 2021 | ||
This data is available for Pro users. Sign up to see all 11 Hefu Noodle investors. Start Free Trial | ||||
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Start Free TrialHefu Noodle Competitors
Hefu Noodle competitors include listed companies like Wetherspoons and Ohsho Food Service, and private ones like Flynn Restaurant Group, Just Salad, Kopi Kenangan and Restaurant365.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.9B | $358M | $1B | 0.9x | ||
| Private | - | - | $1B | - | ||
| Private | $195M | - | $1B | 5.1x | ||
| Private | $184M | - | $1B | 5.4x | ||
| Private | $100M | - | $1B | 10.0x | ||
| Publicly listed | $751M | $89M | $993M | 1.2x |
Hefu Noodle Public Comps
Hefu Noodle is still privately-owned, but its public comps include Wetherspoons, Ohsho Food Service, Domino's Pizza Group, Cracker Barrel, Guangzhou Restaurant Group, Ichibanya, Biglari Holdings, Westlife Foodworld, Ziyan Foods and Kura Sushi.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.9B | $358M | 0.9x | 0.9x | 7.2x | 8.0x | |||
| $751M | $89M | 1.1x | 1.2x | 9.7x | - | |||
| $920M | $175M | 1.5x | 1.4x | 7.8x | 7.5x | |||
| $3.5B | $193M | 0.6x | 0.6x | 10.6x | 15.9x | |||
| $803M | $136M | 1.5x | 1.5x | 9.2x | 9.0x | |||
| $421M | $40M | 2.5x | 2.4x | 26.2x | - | |||
| $395M | $7M | 2.9x | - | 168.7x | - | |||
| $271M | $42M | 3.9x | 3.6x | 25.4x | 27.4x | |||
This data is available for Pro users. Sign up to see all Hefu Noodle competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hefu Noodle
| When was Hefu Noodle founded? | Hefu Noodle was founded in 2012. |
| Where is Hefu Noodle headquartered? | Hefu Noodle is headquartered in Shanghai, China. |
| Is Hefu Noodle publicly listed? | No, Hefu Noodle is a private, VC-backed company. |
| What is Hefu Noodle's valuation? | Hefu Noodle was last valued at $1B in its Series E in July 2021. |
| How much funding has Hefu Noodle raised? | Hefu Noodle has raised $251M across 6 funding rounds. |
| What was Hefu Noodle's last funding round? | Hefu Noodle's last funding round was a $126M Series E in July 2021, led by CMC Capital Group. |
| Who are Hefu Noodle's investors? | Hefu Noodle's investors include Longfor Group Holdings, Qianhai Zhongwei Capital, Meridian Capital Asia, Huaying Capital, Tengxun Touzi, ZWC Partners, Tencent, Meridian Capital, CMC Capital Group, Tiger Cub Funds and 1 other. |
| Which companies are comparable to Hefu Noodle? | Companies comparable to Hefu Noodle include Wetherspoons, Flynn Restaurant Group, Just Salad, Kopi Kenangan, Restaurant365 and Ohsho Food Service. |
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