2026年1 月，新消费投融资呈现出一个明显变化：热闹还在，但"想象力叙事"正在让位给更确定的商业 路径。以及，吃喝仍是主角，但"消费+AI"正在快速靠前。 从细分赛道来看，食品饮料依旧是1月最活跃的板块。包括牛肉米粉连锁品牌「粉传奇」完成1亿元A轮 融资，连锁咖啡品牌挪瓦咖啡（NOWWA COFFEE）完成数亿元 C 轮融资，以及柠檬茶连锁品牌「林 里 LINLEE」、素食自助品牌「素满香」等。这些，也均集中在"已经跑通模型、正在扩规模"的阶段。 与此同时，AI消费相关项目在1月明显增多，且金额不小。从AI陪伴应用、AI玩具，到家庭服务机器 人，多个项目集中在"技术能力已经成型，开始寻找消费级落点"的节点。 值得注意的是，多起项目融资金额达到过亿或数亿级别，也有若干天使轮、Pre-A 轮项目集中出现。 据iBrandi品创不完全统计，2026年1月，共有16起新消费项目披露完成融资或并购，金额超18亿。其 中，仅有茉酸奶收购酸奶罐罐未披露具体金额。 可以看到，真正能拿到大钱的项目，几乎都具备两个共同点：要么已经形成规模化收入模型，要么拥有 明确的产业级落地场景。 当然，1月最值得关注的项目之一，依然是挪瓦咖 ...

Group 1: New Consumption Trends - The core driving force of new consumption lies in a deep understanding of "people" and value resonance, with five key investment opportunities identified [2] - The new consumption index in the capital market has performed well, driven by generational shifts and consumption upgrades, indicating a profound structural transformation in the Chinese consumer market [1][2] - Key sectors include trendy toys, pets, tea beverages, discount retail, and AI consumption, with emotional and companionship economies showing significant potential [2] Group 2: AI and Digital Assets - AI is driving a shift from "software as a service" to "results as a service," with advancements in AI Agent technology leading to greater autonomy and personalized experiences [1] - Stablecoins are reshaping societal perceptions and usage of currency due to their stability, speed, accessibility, and practicality [1] Group 3: Energy Transition and Nuclear Fusion - The nuclear fusion industry is approaching a critical point of transitioning from scientific research to engineering practice and commercial application, with significant potential for investment [3] - High-temperature superconducting materials are key to breakthroughs in nuclear fusion, with the industry projected to have a trillion-dollar market potential [3] - The existing nuclear power industry has potential technology transfer value and synergies with the development of fusion technology [3]