Beijing-based culinary incubator Hatchery has closed an investment from co-working and lifestyle amenities space 5Lmeet at a post-money valuation of RMB 60 million ($9 million USD) to support China growth plans.

The current RMB 3 million round from 5Lmeet is expected to be followed by another RMB 5 million to boost the next 18 months of growth, including expansion into Shanghai, company co-founder and CEO Stewart Johnson told TechNode.

The investment commits Hatchery to launching new food concepts in at least two of 5Lmeet’s upcoming developments in Beijing, one targeting October 2017 in Guomao and one in early 2018 in southern Beijing, according to the firm. Hatchery Shanghai headquarters will open in Q1 2018.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.