Banyan Capital has led a RMB140 million (US$21 million) series B round in Relashenghuo, a chain snack store operator specializing in spicy red crayfish. Matrix Partners China and N5Capital also participated in the round, according to a company announcement. Spicy red crayfish is extremely popular in China. The crayfish market reached RMB56 billion (US$8.4 billion) in 2016, according to the National Aquaculture and Fisheries Technology Station. By comparison, China’s cloud computing market totaled RMB52 billion (US$7.8 billion) last year. Just …

Banyan Leads $21M Round In Chinese Snack Store Relashenghuo appeared first on China Money Network.