Guangzhou Honest Dairy's yoghurt brand has spun off with $56.3m in a round led by Matrix Partners China that will fund the strengthening of its production resources.
Simple Love, a yoghurt producer launched by China-based dairy product supplier Guangzhou Honest Dairy, has closed a RMB400m ($56.3m) series A round, DealStreetAsia reported on Tuesday, citing a company statement.
Matrix Partners China led the round, which also featured fellow venture capital firm BA Capital, private equity firm Maison Capital and Citic Agri Fund, a branch of government-owned investment holding company Citic.
Simple Love offers sugar-free yoghurt as well as additives, and the series A proceeds will fund the integration…
