Xunweishi raises tens of millions of yuan in angel round co-led by Source Code Capital

源码资本·July 12, 2021·2·4

Put consumer needs first, and elevate happiness and satisfaction.

Xunweishi, a ready-to-cook meal brand, announced it has raised tens of millions of RMB in an angel round led jointly by Source Code Capital and Tiantu Capital. The funding will be used for product line expansion and channel marketing, with the goal of reaching 100 million RMB in revenue within the next year.

Xunweishi's founding team brings years of experience in supply chain management, consumer goods companies, and internet operations. Founder and CEO Biao Wang is a serial entrepreneur with extensive experience in project operations and team management, having previously served as CEO of a well-known O2O project and successfully exited. The supply chain partner has nearly two decades of industry experience, including management of a supply chain division at COFCO.

"The timing is right to enter the ready-to-cook market," said Founder and CEO Biao Wang. "People's lifestyles and their mental price points for food have shifted dramatically — it's a completely different landscape from just a few years ago."

Ready-to-cook meals rely on flash-freezing technology to preserve food. As the industry has evolved, Xunweishi has taken this a step further with what it calls "micron-grade flash-freezing freshness lock" technology, which controls ice crystal formation during freezing to keep crystals small and uniform, preventing damage to the physical structure of ingredients. This preserves both taste and nutrition after thawing. Because the process requires no high-temperature or high-pressure treatment and no preservatives, it has won consumer favor for both flavor and health benefits.

Given how critical supply chain is for ready-to-cook products, Xunweishi has established partnerships with all three of the industry's top suppliers.

With this technology, Xunweishi can incorporate a wide variety of fresh ingredients into its dishes, delivering on the promise of its marketing imagery — so the picture actually matches what's on your plate.

Xunweishi has already launched multiple products that consumers can prepare with simple reheating. The preparation is highly convenient, the taste remarkably faithful to the original, and the ingredient variety far exceeds what's typically found in the instant food market.

Xunweishi noodle product line

As a Xunweishi board member, Tong Sun of Source Code Capital commented: "Ready-to-cook is a trillion-RMB track entering a period of rapid growth. On the supply side, the infrastructure — flash-freezing technology, cold-chain logistics — is now fully in place. On the demand side, consumers are increasingly open to new categories and brands, and their desire for convenience without sacrificing quality is being unleashed. We see enormous market potential here. We're also very impressed with the Xunweishi team — they have deep understanding of product and supply chain, and strong execution. We look forward to seeing them deliver and bring more joy to consumers."

Demand for ready-to-cook meals is currently exploding, and the consumer-facing market now has both the technical capability and production capacity to match. As a convenience food, ready-to-cook's core value lies in improving the efficiency of home-cooked meals while increasing the sense of satisfaction and wellbeing they provide.

Wang believes that compared to the United States and Japan, China's ready-to-cook market still has substantial room for growth.

Xunweishi's core target consumers are white-collar workers aged 25–35 in first- and second-tier cities, with a slight female skew. Primary use cases include solo dining, everyday lunch and dinner, and social gatherings.

In product development, Xunweishi operates on a fundamental principle: freshness and deliciousness are non-negotiable, and flavor R&D must be driven by consumer insights rather than intuition alone. The company draws on research methodologies from both traditional consumer goods companies and internet firms, combining quantitative studies with channel feedback to refine products and ensure they closely match user needs.

Wang sees intensifying competition as validation that the category creates real value. In a massive consumer market with an extremely high ceiling, multiple brands with billion-RMB-plus revenues are bound to emerge. Xunweishi will stay focused on understanding consumer needs, insist on in-house R&D, and continuously roll out new categories and flavors to satisfy its customers' palates.