|By PR Newswire||
|November 9, 2012 02:00 PM EST||
SHANGHAI, Nov. 9, 2012 /PRNewswire/ -- YPX Cayman Holdings Co., Ltd. (http://www.ypxfood.com) announced today the closing of its third round of fundraising of US $ 11.5 million, which bring the total financing raised in the last two months to US $18 million. LionRock Capital served as the lead investor for the latest financing round, with follow-on investments from Qiming Venture Partners, and Ignition Capital. YPX has also recently received additional equity funding from Mitsui Global Ventures, Hotung Venture, and renowned entrepreneurs such as former DBS Bank and Singapore Airlines Chairman Mr. Koh Boon Hwee and Nasdaq-listed 51Job.com founders Mr. Norman Lui and Mr. Michael Feng Yunlei. In addition, YPX also secured a US $ 2.5 million venture debt financing from Western Technology Investment, a Silicon Valley based firm that financed Facebook and Google in their very early days. With this fresh funding, YPX Cayman will quickly open more stores within the Eastern and Northern parts of China; keeping close to its strategy of building a large fast casual food and beverage (F&B) chain platform.
YPX built its first store in Dec 2010, and ever since then, the Company has been growing rapidly. During this time, YPX has also invested heavily in its operational infrastructure, IT systems and human resources in order to achieve a sustainable and healthy growth. By end of 2012 YPX will have 30 Cloud 9 stores in Shanghai, Hangzhou, Nanjing, Changzhou, Hefei, Beijing and Tianjin. Key factors in being able to achieve this growth are due to YPX's simplicity in execution, scientific approach to menu engineering, and high quality of employee training. Over the next 2 years, YPX aims to open at least another 90 stores throughout China, and become one of the fastest growing quick service restaurant brands in China.
"With this new round of funding, YPX is now poised to take on a larger territory in China. Our goal is to open in territories that we never could have gotten into earlier. With the internal economy still growing and consumers are gravitating towards more value-for-money food fare, we want to take advantage of current tail wind. As we grow, we have to strengthen our infrastructure such as IT, Training, Product Development and hiring of more talents. No chain store business can grow profitably without a solid infrastructure and a good pool of talents. Ultimately, our objective is to provide good value food that is fresh, safe and tasty at a very affordable price proposition. There should be No Bad Meal each time you eat in Cloud 9. And that in turn will build a sustainable business that eventually will provide great returns to our investors and employees. Our focus is on our staff members. Each one is a family member and will be treated as such. We want to be known to be an employer of choice in China, one that provides the best salaries and benefits and also the best environment. In YPX, we award stock options to our employees, our staff members come first. Only then can they take very good care of our valued customers," said YPX Cayman Founder and Chief Executive Officer Chris Tay.
Mr. Daniel Tseung, Managing Director of LionRock Capital, said: "LionRock Capital is pleased to lead this latest round of financing for YPX. LionRock is impressed not only by YPX's rapid growth, but also by the company's talented senior management team, who each have over 20 years of experience in the Greater China food & beverage industry. With its excellent quality but highly affordable food offerings and increasing popularity with Chinese consumers, YPX is well-positioned to establish itself as a leader in the rapidly-growing Chinese F&B industry. Combined with financial support, LionRock Capital will also provide YPX with access to its extensive network of leading entrepreneurs who will assist in further accelerating YPX's strong rapid growth."
Mr. Hans Tung, Managing Partner of Qiming Venture Partners Beijing office and Vice Chairman of YPX Cayman, said: "We are the first investor who backed Chris and co-developed the concept of YPX from Day 1 and have invested in every round since. We believe in Chris and his team to build a "platform company" in a traditional restaurant business. I think YPX has a chance to accomplish something special and one that is disruptive in the F&B world, just as my other investments in Xiaomi has done for smartphone and VANCL for fashion apparel. Chris is an extraordinary entrepreneur and has recruited and built an incredible team."
John Zagula, MD of Ignition says, "With so much of China's future growth being led by consumers, we consider ourselves very privileged to invest in a team with the leadership, experience and operating philosophy needed to meet the growing demands of such consumers in their category. And we are doubly privileged to have been able to invest alongside such prestigious and strategically value-added investors."
Mr. Koh Boon Hwee, an angel investor from Singapore, and over the course of his career led many public and private companies, says: "China's domestic economy is transforming rapidly, and my investment in YPX Cayman gives me a ringside seat in witnessing the rise of domestic consumption in this huge country. I am confident that YPX Cayman will build out its network of restaurants with this new round of funding."
David Tso, Vice President of Hotung, says: "Hotung invested in YPX since 2011 and have made a follow-on investment this year as a vote of confidence. As China's QSR (quick service restaurant) / FCR (fast casual restaurant) market is huge, YPX will enjoy an amazing growth potential via its proven model for profitability and scalability in the years to come. We are very impressed by YPX's professional management system. And combined with a very experienced international and transparent management team, YPX has achieved all these in just 2 years; sort of a record. Looking forward, we are confident that YPX will catch up with its peers and become the market leader in the China QSR/FCR market."
Mr. Shunsuke Masaki, Head of Consumer Investment, Mitsui Global Investment, added: "By seeing rapid change of urban lifestyle in China, I am confident that the demand on high quality retail services will keep growing in the future. YPX's management team has already proved its ability to address such demand by delivering a number of innovations. This can't be done without its operational acumen and tireless efforts."
Maurice Werdegar, Managing Director of Western Technology Investment, says: "We are excited to be working with YPX. The team's proven ability to create value in the F&B market gave us confidence in the YPX concept and we look forward to helping them grow into a successful company."
About YPX Cayman Holdings Co., Ltd.
Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual (F&B) chain in China. CLOUD 9, the company's first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 30 stores in Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, Hefei etc., and continues to open new stores in China. The company's management team, with a combined of over 80 years of experience in the F&B chain management, continuously improves their standard and management level, valuing quality as their first goal. The company aims to establish a large platform in the casual F&B chain in China.
About LionRock Capital
LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. LionRock is supported by some of the world's most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock's investee companies and investment partners.
LionRock seeks to build active, value-added, long-term relationships with company management teams and investors. LionRock's Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. LionRock's team of seasoned Asian professionals have a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond."
About Qiming Venture Partners
With offices in Shanghai, Beijing and Hong Kong as well as the Seattle, Qiming Venture Partners manages funds exceeding US$1 billion and is dedicated to investing in the high-growth promising enterprises in China. The company invested and successfully nurtured these companies to IPO: Jiayuan, ChinaCache, Taomee, Tiger Medical and Leo Pharmaceutical. It has investments also in category leaders like VANCL, Xiaomi Mobile, eHi Car Rental, Forgame, Jiayuan, PPS TV, Dianping, Mougujie, AllTech Medical, Gan & Lee Pharmaceutical, and Arrail Dental.
About Ignition Capital
Ignition Capital is the growth equity arm of a $2.5 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 12 years, we've been honored to work with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. We have seen our companies deal with difficult economic situations, grow dramatically and either become public companies or get sold to larger market leaders.
About Mitsui Global Investment
Mitsui Global Investment, a wholly-owned subsidiary of Mitsui, focuses on investing in high growth enterprises worldwide. Headquartered in Tokyo, the company has set up offices in Beijing, Shanghai, Silicon Valley and New York and has built a network covering Japan, the US and China. With its global network and resources, Mitsui Global Investment helps its portfolios expand in overseas markets by providing them with strong cross-sector, cross-border support. Mitsui Global Investment's investments in China include iSoftStone, Prudent Energy and Ftuan.
About Hotung Venture Capital
Hotung Investment Holdings Ltd, a venture capital firm with operations in Taiwan, the US and China, was incorporated in March 1997 and has been listed on the Main Board of SGX-ST since August 1997. It is the first and only Taiwan venture capital firm listed on the Singapore Exchange.
About Mr. Koh Boon Hwee
Koh Boon Hwee, DUBC, holds a first class honours degree in mechanical engineering from the Imperial College of Science and Technology, University of London, and an MBA (Distinction) from the Harvard Business School. He is also an alumnus of St Andrew's School.Koh was appointed Chairman of the Singapore Telecom Group in 1986 and then joined the Singapore Airlines board in March 2001.Among other board appointments, Koh served as Chairman of the SIA Engineering Company; a Director of Agilent Technologies Inc, [Four Soft Ltd] and Norelco UMS Holdings Limited; Executive Director of Media Ring Limited and Tech Group Asia Limited. He serves on the boards of several private companies, including Temasek Holdings (Private) Limited as a Director; AAC Acoustic Technologies Holdings Ltd and Infiniti Solutions Private Limited. He is also a Council Member of the Singapore Business Federation.
On 1 January 2006, Koh became chairman of DBS Bank. He joined DBS as a director on 15 June 2005. The list of Koh Boon Hwee's accomplishment goes on - his chairmanship of the Nanyang Technological University Council; aviation giant Singapore Airlines; and his appointment to the national Economic Committee in the recession of the 80s.
SOURCE YPX Cayman Holdings Co., Ltd
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Nov. 25, 2014 09:30 PM EST Reads: 1,091
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Nov. 25, 2014 09:30 PM EST Reads: 1,055
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Nov. 25, 2014 08:00 PM EST Reads: 1,342
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Nov. 25, 2014 07:00 PM EST Reads: 1,184
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Nov. 25, 2014 04:30 PM EST Reads: 1,224
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 24, 2014 07:00 PM EST Reads: 1,576
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 24, 2014 12:00 PM EST Reads: 1,450
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 24, 2014 11:00 AM EST Reads: 1,589
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 24, 2014 09:00 AM EST Reads: 1,602
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 23, 2014 07:30 PM EST Reads: 1,790
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 23, 2014 12:00 PM EST Reads: 1,728
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Nov. 23, 2014 07:45 AM EST Reads: 1,744
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Nov. 22, 2014 05:30 PM EST Reads: 1,548
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Nov. 22, 2014 05:30 PM EST Reads: 1,486
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Nov. 21, 2014 08:00 PM EST Reads: 1,554
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
Nov. 21, 2014 08:00 PM EST Reads: 1,476
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 21, 2014 07:00 PM EST Reads: 1,411
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
Nov. 20, 2014 09:15 PM EST Reads: 1,458
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Nov. 20, 2014 06:00 PM EST Reads: 1,402
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
Nov. 20, 2014 01:00 PM EST Reads: 1,675