Chaoshan-style food company "Xianwei Yeye" (仙味爷爷) announced the completion of a 60 million yuan Pre-A funding round led by Source Code Capital.

源码资本·July 15, 2021·0·0

Recently, up-and-coming Chaoshan-flavor food company Xianwei Yeye has completed a RMB 60 million Pre-A funding round led by Source Code Capital, with Hillhouse participating. Yiqiu Capital served as the exclusive financial advisor. Chen Xiang, founder and CEO of Xianwei Yeye, said the capital will be used for product R&D, supply chain improvements, and building out the company's talent infrastructure.

Xianwei Yeye (仙味爷爷), an emerging Chaoshan-style food company, has completed a RMB 60 million Pre-A funding round led by Source Code Capital, with Hillhouse participating and Yiqiu Capital serving as the exclusive financial advisor. Founder and CEO Xiang Chen said the funds will be used for product R&D, supply chain development, and building out the talent infrastructure.

As domestic consumption levels rise, consumer tastes are shifting from heavy salt and spice toward more refined, "umami-forward" flavors — a hallmark of Chaoshan cuisine since ancient times. Founded in September 2020 and rooted in Chaozhou, Xianwei Yeye focuses on developing and promoting Chaoshan-style cuisine. Its vision is to own the concept of "umami" in consumers' minds, gradually conveying its brand ethos — "Chaoshan essence, ultimate freshness, premium ingredients, sophisticated taste" — through its food products.

Founder and CEO Xiang Chen is a native Chaoshan food connoisseur with an international perspective. He holds a bachelor's degree from UC Berkeley and is a serial entrepreneur, as well as a founding vice president of the Chaozhou Chefs Association and vice president of the Guangdong Food Industry Association. Co-founder Huaibo Chen, also from Chaoshan, holds a master's degree in engineering from The University of Hong Kong and brings over five years of supply chain consulting and investment management experience, having led the end-to-end supply chain buildout for several consumer brands from scratch.

Xiang Chen noted that Xianwei Yeye entered the market through compound seasonings, aiming to present the full depth of Chaoshan umami by pairing fresh, diverse ingredients with traditional Chaoshan craft techniques. Following this round, the company plans to expand into braised products and prepared meals, deepening its R&D capabilities and refining its supply chain to bring the best of Chinese cooking into every household.

Source Code Capital, the lead investor in this round, has long been active in consumer investments, with food and beverage as a key focus area. She Yangjie, a director at Source Code Capital and board member of the company, commented: "Chaoshan cuisine is distinguished by its umami richness, layered complexity, and full-bodied texture — qualities that create a distinctive and memorable impression for consumers. In the past, limitations in supply chain maturity, logistics infrastructure, and team capabilities meant that much of Chaoshan cuisine remained confined to the region. Xianwei Yeye maintains exceptionally high standards for its products. Starting from compound seasonings and gradually expanding into snacks, meal accompaniments, and prepared meals, the team is bringing Chaoshan flavors to a national audience. We look forward to seeing them continue delivering delicious products to people."

A core tenet of Chaoshan cooking is preserving the natural flavor of each ingredient to elevate the main component, creating an experience of pure umami. Xianwei Yeye's hit product, Pangdangjia Chunky Beef Sauce, diverges from the typical Sichuan-Chongqing style beef chili sauces on the market by incorporating the essence of Chaoshan gastronomy. To preserve each ingredient's true flavor, the company selects premium 1.5cm-thick cuts of hind leg beef for tenderness and bite; sources three varieties of fresh chili peppers; uses shrimp and dried scallops from two different coastal waters; and adds king oyster mushrooms for their smooth, springy texture. This careful assembly of ingredients serves to fully elevate the beef's natural umami, giving users a layered tasting experience across the front, middle, and back of the palate.

Through meticulous craftsmanship, the team has built its own dedicated flexible supply chain, reworking and upgrading the traditional compound seasoning supply chain. By rethinking ingredient preprocessing and cooking methods, they've faithfully recreated ancient Chaoshan techniques using modern equipment — ultimately delivering a taste experience that exceeds expectations.