Another Company Raises Nearly 100 Million Yuan, Taking the Lead in the $300 Billion Vaping Market

“Chinese e-cigarette companies are expanding into the $300 billion new tobacco blue ocean market.”

In recent years, the global new tobacco market, including China, has developed rapidly. New tobacco products can be divided into four main categories: e-cigarettes, heated tobacco products, oral tobacco, and other tobacco products (such as snuff and patches). Among them, e-cigarettes and heated tobacco products are currently the main products. In 2017, the scale of e-cigarettes in China approached 40 billion yuan, with growth rates maintained between 20%-30% in recent years, and capital interest in the industry has rapidly increased. In 2018, the number of financing rounds for new tobacco products surged, with top capital firms like IDG actively entering the market. Suddenly, e-cigarettes became a hot trend.

In January of this year, domestic e-cigarette brands Wel and BTM both received investments of over ten million yuan. Recently, a high-end e-cigarette company based in Shenzhen, YouMe Group, has completed an angel round financing of 73.6 million yuan, all of which has been received. Prior to this, YouMe Group primarily focused on overseas markets, and its Suorin e-cigarette, a pioneer in open integrated e-cigarettes, has consistently ranked among the top three in sales in the