Gen Z Electronic Consumer Brand Yowu Wins Pre-A Round of Financing, Led by Xiaomi
On Wednesday, Yowu, an electronic brand designed for Gen Z consumers, completed a Pre-A round of financing worth tens of millions of yuan. This round of financing was led by Xiaomi and followed by Pop Mart. Long Valley Capital acted as the financial adviser.
Founded in Shanghai in 2018, Yowu focuses on the development and innovation of emerging electronic consumer goods with the post-90s youth as its corefocus. Previously, Yowu was exclusively invested by angel investor Borchid Capital.
Wang Hao, CEO of Yowu, said that the brand is not just simply doing product design, but also investing in technology and production. Yowu has R&D teams in Shanghai and Shenzhen, and seeks to better integrate hardware solutions. In terms of headset lighting and app control technology, Yowu is also investing its resources in independent research and development.
Currently, Yowu has a series of popular co-branded products. In August 2019, a cat ear headset was released co-branded with the famous Japanese virtual idol “Hatsune Miku”. In 2020, Yowu launched the “Little Demon Fox Matchmaker” co-branded headset with Tencent Animation and Comics. In 2021, the Yowu released a headset co-branded with another famous Japanese manga series, “Card Capitor Sakura”.
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As for the company’s marketing strategy, Yowu aims at popular social media channels such as Weibo, Bilibili, Instagram and TikTok, which are popular among Gen Z users. The company also created a virtual idol named “Yowu” to interact with its consumers, and the company cooperates with a large number of KOLs and fans to create content.
As an electronic consumption brand, Yowu hopes to meet the new trend of Gen Z fashion through innovative product design and features. According to the company, in the next 3-5 years, Gen Z will become the core consumption force in the consumer electronics market, and the market will exceed 300 billion yuan.