Community pub brand Tiaohai (meaning jumping into the sea in Chinese) has raised tens of millions of yuan in an angel round backed by Challenger Capital.
Founder You Liang said that the proceeds of the round will be used to expand the company’s core business, build a membership program, and explore ventures in hotel and apartment management.
Tiaohai positioned itself as a neighborhood pub operator, with over 30 venues across China. The company aims to create public spaces within a 5-kilometer radius of its pubs, offering local urbanites a place for casual social interaction and self-expression.
2024 has been Tiaohai’s fastest-growing year to date. In the first half of the year, the number of its pubs doubled, expanding from 7 cities last year to 15 currently. Beyond its core tavern business, the company is now venturing into accommodation services for young people.
Mr. Liang said that the company’s business model revolves around meeting the social needs of people. While pubs have been the starting point, Tiaohai is now addressing the common housing concerns of urban youth by exploring long-term rental apartments and destination hotels. The focus is on creating enjoyable living environments while maintaining a light-asset model to leverage their expertise in operations.
