Luo Yonghao's ONYO Vape Completes RMB 30 Million Seed Funding

On July 22, according to reports from Jiemian News, Luo Yonghao's behind-the-scenes operation, ONYO Vape, has completed approximately RMB 30 million in financing.
 
Additionally, according to reports from Blue Hole New Consumption, the investors in this financing round are Junsheng Capital and Hongta Group. Junsheng Investment was established in 2003 and focuses on direct equity investment and acquisition in the Chinese domestic market. In Junsheng Investment's official website, notable technology and internet companies in their investment cases include Tongcheng Yilong and CATL, while successful cases in the banking and finance sector include Bank of Communications, Pacific Insurance, Industrial Bank, and Ping An Insurance. Hongta Group was founded by Chu Shijian and owns brands such as Hongta Mountain and Yuxi.

ONYO Vape was founded by Peng Jianzhou, the former president of Smartisan Technology, but the actual mastermind behind it is Luo Yonghao. As early as after this year's Spring Festival, Luo Yonghao visited several major e-cigarette suppliers in Shenzhen multiple times and consulted with Zhu Xiaomu, the former product director of Smartisan Technology, regarding matters in the e-cigarette industry. The latter announced his departure from Smartisan Technology in January this year and founded his own e-cigarette brand, Flow.

ONYO Vape launched its first product in April this year and entered the top ten best-selling e-cigarette brands during the 618 shopping festival alongside Flow. Zhu Xiaomu previously told Jiemian News that Luo Yonghao and his ONYO Vape are a competitor to be wary of.

In a conversation between Huang Zhangjin and Luo Yonghao, Luo revealed that his motivation for entering the e-cigarette industry, aside from his optimism about the sector, was to achieve profitability to repay debts owed to suppliers of Smartisan Technology.

According to Jiemian News, ONYO Vape's current shipment volume is around 60,000 units, primarily sold online. A new product from ONYO is expected to be officially launched in August, which may reflect the design standards of the Smartisan design studio and is highly anticipated, with a price likely exceeding most products currently on the market, estimated to be between RMB 500-600.

Earlier reports indicated that Luo Yonghao might make another appearance at a press conference in August, but this time the product in his hands will not be a mobile phone, but ONYO Vape.