Manufacturer of sugar-free tea and flavored seltzer water intended for the consumer craving healthy and flavorful drinks
Genki Forest (元气森林) built China's sugar-free beverage category, starting with erythritol-sweetened sparkling water and extending into energy drinks, ready-to-drink tea and dairy. Founded in 2015 by serial internet entrepreneur Tang Binsen, it grew from roughly $25M of annual sales in 2018 to about $390M in 2020 by running like a software company — fast product iteration, heavy convenience-store and online distribution — before investing in its own bottling plants to control supply. Its $15B mark comes from a late-2021 round and has not been re-tested.
Beverages📍 Beijing, ChinaFounded 2016
Current Valuation
$15B
as of 2021-Q4
DECACORN
QL Price
$15B
0% vs last round
QuantLogix's current estimate for Genki Forest, published 2026-09-27 — in line with the last disclosed round of $15B (2021-Q4).
Confidence
low
Basis
round anchored
What backs this price
Last disclosed round
$15B
2021-Q4
weight 0.04
How this price has held up
No round has priced for Genki Forest since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-09-27 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Genki Forest, 2026-09-27 (b4843cd886a9b202).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Genki Forest going public?
No. Genki Forest is private and has not filed to go public. There is no S-1 on file.
What is Genki Forest's valuation in 2026?
Genki Forest is valued at $15B as of 2021-Q4, set by its PE Growth/Expansion ($200M, Nov 2021). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Genki Forest filed an S-1?
No public S-1 is on file for Genki Forest.
Who are Genki Forest's investors?
Genki Forest's investors include Sequoia Capital China, Temasek, Warburg Pincus, Hillhouse Capital, Genesis Capital, Longfor Capital.
How much has Genki Forest raised?
Genki Forest has raised $721.13M in total, most recently a PE Growth/Expansion of $200M in Nov 2021.
Is Genki Forest publicly traded — can you buy Genki Forest stock?
No. Genki Forest is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Genki Forest on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Tang Binsen
Founded
2016
HQ
Beijing, China
Employees
5,000
Total Raised
$721.13M
Growth
Sales grew from ~$25M in 2018 to ~$390M in 2020, tripling its valuation to $6B in March 2021 and reaching a reported ~$15B by late 2021; no round has re-tested that mark since, and the Chinese beverage majors have since attacked the sugar-free category directly
Last Round
PE Growth/Expansion — $200M (Nov 2021)
IPO Status
private
Fundraising Status
PE Growth/Expansion · $200M · 4y 10mo ago
privateTotal raised $721.13M
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
PE Growth/Expansion
$200M
Nov 2021
—
$15B
Talent Signal
No public careers page or job board could be found for Genki Forest as of 2026-09-15. That itself is a datapoint: no open external hiring surface.
Checked the company site and major hosted job boards. Re-checked monthly.
Founders & Key People
Tang Binsen
Investors
Sequoia Capital China · Temasek · Warburg Pincus · Hillhouse Capital · Genesis Capital · Longfor Capital
Products
Sparkling water (sugar-free, erythritol-sweetened)
Ranger / Alien energy drinks
Ready-to-drink milk tea and dairy
Bottled tea (Ranch series)
Self-operated bottling plants across China
Competitors
Nongfu Spring · Coca-Cola China · PepsiCo China · Master Kong · Eastroc Beverage
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2021-Q4. Refreshed quarterly.