Operator of a Chinese tea franchise intended to provide unique beverages.
HeyTea pioneered China's premium fresh-tea category — cheese-foam and fruit teas at a price point well above the mass chains — and reached a RMB 60B (~$9.3B) valuation in a July 2021 round. It has since cut prices, opened to franchisees to expand faster, and repeatedly denied IPO plans, while rivals including Mixue, Guming and ChaPanda have listed in Hong Kong and reset the sector's valuation comparables.
Restaurants and Bars📍 Shenzhen, ChinaFounded 2013
Current Valuation
$9.3B
as of 2021-Q3
UNICORN
QL Price
$9.3B
0% vs last round
QuantLogix's current estimate for HeyTea, published 2026-09-27 — in line with the last disclosed round of $9.3B (2021-Q3).
Confidence
low
Basis
round anchored
What backs this price
Last disclosed round
$9.3B
2021-Q3
weight 0.03
How this price has held up
No round has priced for HeyTea 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, HeyTea, 2026-09-27 (7ed18d9afd021ba8).
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 HeyTea going public?
No. HeyTea is private and has not filed to go public. There is no S-1 on file.
What is HeyTea's valuation in 2026?
HeyTea is valued at $9.3B as of 2021-Q3, set by its Series D ($500M, Jul 2021). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has HeyTea filed an S-1?
No public S-1 is on file for HeyTea.
Who are HeyTea's investors?
HeyTea's investors include Hillhouse Capital, Sequoia Capital China, Tencent, Black Ant Capital, CoStone Capital.
How much has HeyTea raised?
HeyTea has raised $578.61M in total, most recently a Series D of $500M in Jul 2021.
Is HeyTea publicly traded — can you buy HeyTea stock?
No. HeyTea 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 HeyTea 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
Nie Yunchen
Founded
2013
HQ
Shenzhen, China
Total Raised
$578.61M
Growth
Peak private mark of ~$9.3B set in July 2021; since then the company has cut prices, pivoted to franchising and repeatedly denied listing plans while its listed peers repriced the category
Last Round
Series D — $500M (Jul 2021)
IPO Status
private
Fundraising Status
Series D · $500M · 5y 2mo ago
privateTotal raised $578.61M
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series D
$500M
Jul 2021
—
$9.3B
Talent Signal
No public careers page or job board could be found for HeyTea 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
Nie Yunchen
Investors
Hillhouse Capital · Sequoia Capital China · Tencent · Black Ant Capital · CoStone Capital
Products
Premium fresh-fruit tea and cheese-foam tea stores
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2021-Q3. Refreshed quarterly.