Code Time | "Daily Black" Announces Two Rounds of Funding Exceeding 100 Million Yuan, Source Code Capital Leads A+ Round

源码资本·July 12, 2022·1·5

Focused on R&D of innovative healthy dark chocolate

#MaKe Key Updates from Source Code Capital and MaHui Members

Recently, health-focused snack food company LANDBASE announced that its emerging consumer brand Daily Black completed two consecutive funding rounds totaling over RMB 100 million in Q2 2022. The new financing was led by Ruiyi Investment, with co-investment from GP Capital and Pernod Ricard's investment fund, while existing shareholders 5Y Capital and Yuanxing Capital continued to follow on. Source Code Capital was the lead investor in the company's Series A+ round. The fresh capital will be used for R&D and product innovation, offline channel expansion, team building, digital and intelligent brand upgrades, and global supply chain development.

LANDBASE founder Ethan Zhou stated that LANDBASE is committed to innovation in the health-conscious food sector, bringing consumers products that "make every day happier." "Daily Black," as LANDBASE's first flagship brand, distinguishes itself through health and sustainability positioning, focusing on the inherent health attributes of dark chocolate to drive breakthrough innovations in formulation and taste. Chocolate is a long-cycle category dominated by international snack food giants, yet one where Chinese brands are scarce — it demands exceptional combined capabilities in brand strength, product power, and distribution. While external market conditions continue to evolve, we believe consumers' pursuit of health and happiness is a consistently upward trend. Daily Black will remain anchored to its brand mission of "making every day happier," steadily increasing category and brand penetration, with the goal of building Daily Black into a globally competitive Chinese national brand.

Founded in 2019, Daily Black is an emerging Chinese consumer brand focused on developing innovative, health-oriented dark chocolate products. "Daily" reflects the brand's recommendation for consumption frequency, while "Black" indicates its focused sub-category — a straightforward brand name designed to directly reach target consumers, with the aspiration that dark chocolate becomes a daily self-care health snack. Currently, Daily Black's offline retail presence covers over 100,000 points of sale, with online channels including its Tmall flagship store, WeChat shop, and JD.com flagship store. The brand also ranked first in the dark chocolate sub-category and third in the overall chocolate category during Tmall's 2022 618 shopping festival.