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Starbucks China competitor Luckin raises $200M in funding

December 13, 2018

Luckin, an upcoming coffee brand aiming to beat Starbucks in China, claims it's now valued at $2.2 billion after a $200 million Series B funding effort.

Just five months ago the China-based coffee startup, which runs more than 1,700 shops across two cities, raised $200 million, according to a Tech Crunch report.

Starbucks, according to Tech Crunch, has 3,300 locations in China after two decades of operation in the country.

Luckin's retail strategy features cafes, pick-up booths and take-out kitchens designed for delivery services.