(Yicai Global) April 18 -- Luckin Coffee, the chain that wants to be bigger than Starbucks in China, is worth USD2.9 billion after raking in USD150 million to top up its B-round fundraising, with USD125 million of the new money coming from the world's largest asset manager BlackRock, the firm announced today. The valuation is USD700 million higher than after the initial wave of B-round funding, which collected USD200 million.

Editor: James Boynton