Two prominent Chinese coffee chains Seesaw and M Stand both raised considerable rounds that will go towards expansion, while prominent local AI firm 4Paradigm bagged over $230 million for R&D and ecosystem improvement.

On Wednesday, Seesaw Coffee announced it completed its A + round of financing, bagging over 100 million yuan, with HeyTea as a new investor, followed by Hongyi Baifu, an old shareholder. This is the first time HeyTea has invested in a coffee brand.