Funding profile · Consumer health and wellness

LemonBox

Four reported rounds and no SEC filing anywhere in the record. Here is what the press coverage adds up to, and where an aggregator’s own numbers do not match it.

$2.5MPre A round, closed Dec 2020, led by Panda Capital
~$10MSeries A, closed Oct 2021, reported as near 10 million dollars
$4.5MLifetime total funding per Tracxn, an aggregator figure the press reported rounds exceed
0Form D filings found under LemonBox on SEC EDGAR

Data as of September 25, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Jul 2018 Seed Not disclosed in dollars; Chinese press describes a low single digit million RMB round Y Combinator, Lightspeed China Independent
Jul 2018 Seed, US press figure $2.0M Y Combinator Independent
Oct 2018 Angel Tens of millions RMB, not converted to dollars in the source Unnamed Silicon Valley investors Independent
Dec 2020 Pre A $2.5M Led by Panda Capital; Y Combinator following Independent
Oct 2021 Series A Reported as near $10M; precise amount not disclosed Led by an unnamed domestic fund; Panda Capital, SCRUM, Partech, SCMAdvisors and Silicon Valley investors following Independent

Reading the filings

  1. There is no SEC paper trail.No Form D filing under the LemonBox name, and no EDGAR full text search hit naming LemonBox as an issuer, was found. LemonBox sells almost entirely through a WeChat mini program and Chinese marketplaces, so a US entity in its structure may simply never have needed to make a Regulation D filing, depending on how and where its money was actually raised.
  2. The reported rounds do not reconcile with the aggregator total.Summing the press reported amounts, a $2.0M or low single digit million RMB seed in 2018, a further angel round the same year, a $2.5M pre A in December 2020, and a near $10M Series A in October 2021, puts outside capital well above $12M by late 2021. Tracxn instead lists LemonBox’s lifetime funding at $4.5M, a total lower than the Series A alone as reported by 36Kr and Brandstar. Tracxn’s own per round figures shown alongside that total are also internally inconsistent, which suggests the aggregator’s numbers should be treated as an estimate rather than a record.
  3. The Series A lead was never named.Both the 36Kr report, republished by NetEase, and Brandstar describe the October 2021 round as led by an unnamed domestic fund, with Panda Capital, SCRUM, Partech and SCMAdvisors listed only as following investors. No later report fills in the blank.
  4. One backer appears only on the company’s own list.LemonBox’s Y Combinator profile names Bessemer Venture Partners and Partech Ventures as backers. Partech is corroborated by the 2021 Series A coverage. Bessemer is not named in any funding announcement found for LemonBox, in English or Chinese.
  5. Four years without a disclosed round.The last financing found in press coverage is the October 2021 Series A. LemonBox’s current Y Combinator profile now describes the company as AI driven, a repositioning that has not come with a disclosed new round.

Commercial signals

Signal Detail Source type
Users 10 million plus users served, per the company website, with a September 2025 data note. KrASIA reported over 1 million users in China as of March 2021. Company stated
Distribution Sold through a WeChat mini program, plus Tmall, Taobao and Douyin in China; the company also lists TikTok and Instagram. Independent
Supply chain Fulfillment centers in Silicon Valley and the Shenzhen free trade zone, opened to stabilize sourcing during the COVID-19 disruption to cross border trade. Independent
Accelerator Y Combinator, 2018 cohort. LemonBox is cited by Chinese outlets as one of the first Chinese projects YC backed. Independent
US regulatory record No FDA warning letter or import alert naming LemonBox found in FDA’s public enforcement databases. Public record

What to watch

  • A named lead investor for the October 2021 Series A, or disclosure of any round since.
  • Independent confirmation that Bessemer Venture Partners actually holds a stake.
  • Any SEC or Chinese regulatory filing that would reconcile the funding total, since the reported rounds and the Tracxn aggregate do not currently agree.
  • Whether the “AI generated nutrition” framing on the company’s current investor facing profile comes with new capital.

The LemonBox story on Healthcare DiscoveryHealthcare Discovery

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  • Spero Foods: Shared investor: Bessemer. A Bay Area startup that turned sunflower and pumpkin seeds into cream cheese and egg substitutes, reached more than 1,000 US stores, and was sold for cash to a
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Sources

  1. IndependentYC backed LemonBox raises 2.5 million dollars bringing vitamins to Chinese millennialsTechCrunch, Rita Liao · Dec 3, 2020
  2. IndependentLemonBox is personalizing nutrition for Chinese millennialsKrASIA, AJ Cortese · Mar 21, 2021
  3. IndependentLeading the Personalized Supplement Market in China, NVC Alum LemonBox Raises 2.5 Million Dollars to Expand Direct to Consumer BusinessPolsky Center for Entrepreneurship and Innovation, Abigail Prescott · Feb 4, 2021
  4. IndependentLemonbox Raises 2.5 Million Dollars in FundingGlobal Cosmetic Industry, Hannah Fink · Dec 17, 2020
  5. IndependentDTC personalized nutrition brand LemonBox raises nearly 10 million US dollars in Series A fundingBrandstar, Liu Yifan · Nov 1, 2021
  6. IndependentHow are the first batch of projects YC invested in China doing? LemonBox has completed a tens of millions RMB angel roundFoodaily · Dec 17, 2018
  7. Independent36Kr exclusive: DTC nutrition brand LemonBox completes near 10 million US dollar Series A, building out its full ecosystem36Kr, republished by NetEase · Oct 29, 2021
  8. IndependentPersonalized vitamin DTC brand LemonBox raises several million US dollar pre A round, led by Panda CapitalPEdaily, republished by Aliyun startup center · Dec 16, 2021
  9. IndependentLemonBox company profileTracxn · accessed Sep 25, 2026
  10. CompanyLemonBox: AI-generated personalized nutrition solutions, built for you dailyY Combinator company page · accessed Sep 25, 2026

Compiled from SEC EDGAR, FDA public enforcement databases and published reports as of September 25, 2026. No Form D notices were found for LemonBox. Reported round amounts reflect the date of the press report and may not capture the full picture. Healthcare Venture Capital Fund holds no position in LemonBox. This page is not an offer to sell or a recommendation to buy any security.