BTM Beiye E-Cigarette Announces Completion of First-Round Financing of RMB 50 Million
BTM Beiye E-Cigarette has announced the completion of its first round of financing worth RMB 50 million, along with a strategic equity investment agreement with Qianwu Co., Ltd., a tier-one supplier to one of the world’s most valuable smartphone brands. Q
BTM Beiye E-Cigarette has announced the completion of its first financing round, raising RMB 50 million, and has reached a strategic equity investment agreement with Qianwu Co., Ltd., a tier-one supplier to one of the world’s most valuable smartphone brands.
Qianwu Co., Ltd. was founded in Japan in 1951, and in April 2010 it established the Qianda Hardware Products production base in Dongguan. Since the fourth-generation iPhone, the company has been a core tier-one supplier of exterior components, and it has collaborated with world-leading smartphone and professional camera brands for more than 17 years.
It possesses advanced processing equipment and technical capabilities, providing one-stop production services ranging from product design and development to hardware mold design and manufacturing, as well as automatic assembly machine design and development, stamping, laser welding, laser cutting, CNC automated machining, and assembly operations. It has now become one of the preferred manufacturing partners for global OEM brands.
The owner of the "BTM Beiye" brand is Shenzhen Qianhai Longxing Technology, a company integrating the R&D, production, sales, and service of vaping devices. Its in-house brands include "Beiye Betterman" and "BTM Beiye," and its founding team members come from IBM, Huawei, and OPPO.
2018 was called the first year of pod systems, and vaping devices have attracted increasing attention from capital. Many primary-market investment institutions focused on the consumer sector have been piling into the e-cigarette space. With top-tier capital such as Source Code Capital and IDG entering the field this year, companies in the vaping industry that secure financing are expected to see concentrated growth in 2019.
Behind this capital interest lies the favorable development outlook for the vaping industry, as the global e-cigarette user population has seen explosive growth. According to WHO statistics, the number of e-cigarette users grew rapidly from about 7 million in 2011 to 35 million in 2016. Market research firm Euromonitor International predicts that by 2021, the adult e-cigarette user population will increase to 55 million.
Research reports show that the global e-cigarette market was worth about USD 416 million in 2010, and by 2018 it had expanded to USD 16 billion (excluding heated tobacco). In just eight years, the market grew 38-fold.
Shortly before announcing the financing, the author conducted an exclusive interview with He Zhi, founder of "BTM Beiye," covering future development, the competitive landscape of the industry, and youth smoking issues.
He Zhi said that through this strategic partnership, "BTM Beiye" has become partners with a global top-tier contract manufacturer. The company will also bring in a formal and professional investment management firm to lay a solid foundation for its next phase of rapid growth.
He also revealed that the company is using JUUL as its benchmark, and that most of the financing will be used to establish a professional laboratory, improve its independent R&D capabilities in e-cigarette patented technology, and continuously deliver high-quality products through cooperation with top laboratories in the U.S. and Europe, building a distinctive e-cigarette brand. At the same time, it will increase efforts in channel development and brand upgrading, with plans to become a leader in the vaping industry in 2019. The company aims to put into practice its entrepreneurial vision of changing the smoking habits of 1 billion smokers worldwide, encouraging more people to focus on health and enjoy life.
The first product under the "BTM Beiye" brand, the Betterman X1 replaceable-pod vape, launched on JD Crowdfunding on October 24, 2018. It featured the latest generation of nicotine salt technology, claimed true zero tar, and aimed to provide a healthier cigarette alternative.
The data showed that during the 30-day crowdfunding period, it attracted 6,455 backers, raised more than RMB 1 million, and reached 1,056% of its fundraising target, making it one of the most talked-about e-cigarettes of 2018.
Qianwu Co., Ltd. was founded in Japan in 1951, and in April 2010 it established the Qianda Hardware Products production base in Dongguan. Since the fourth-generation iPhone, the company has been a core tier-one supplier of exterior components, and it has collaborated with world-leading smartphone and professional camera brands for more than 17 years.
It possesses advanced processing equipment and technical capabilities, providing one-stop production services ranging from product design and development to hardware mold design and manufacturing, as well as automatic assembly machine design and development, stamping, laser welding, laser cutting, CNC automated machining, and assembly operations. It has now become one of the preferred manufacturing partners for global OEM brands.
The owner of the "BTM Beiye" brand is Shenzhen Qianhai Longxing Technology, a company integrating the R&D, production, sales, and service of vaping devices. Its in-house brands include "Beiye Betterman" and "BTM Beiye," and its founding team members come from IBM, Huawei, and OPPO.2018 was called the first year of pod systems, and vaping devices have attracted increasing attention from capital. Many primary-market investment institutions focused on the consumer sector have been piling into the e-cigarette space. With top-tier capital such as Source Code Capital and IDG entering the field this year, companies in the vaping industry that secure financing are expected to see concentrated growth in 2019.
Behind this capital interest lies the favorable development outlook for the vaping industry, as the global e-cigarette user population has seen explosive growth. According to WHO statistics, the number of e-cigarette users grew rapidly from about 7 million in 2011 to 35 million in 2016. Market research firm Euromonitor International predicts that by 2021, the adult e-cigarette user population will increase to 55 million.
Research reports show that the global e-cigarette market was worth about USD 416 million in 2010, and by 2018 it had expanded to USD 16 billion (excluding heated tobacco). In just eight years, the market grew 38-fold.
Shortly before announcing the financing, the author conducted an exclusive interview with He Zhi, founder of "BTM Beiye," covering future development, the competitive landscape of the industry, and youth smoking issues.
He Zhi said that through this strategic partnership, "BTM Beiye" has become partners with a global top-tier contract manufacturer. The company will also bring in a formal and professional investment management firm to lay a solid foundation for its next phase of rapid growth.
He also revealed that the company is using JUUL as its benchmark, and that most of the financing will be used to establish a professional laboratory, improve its independent R&D capabilities in e-cigarette patented technology, and continuously deliver high-quality products through cooperation with top laboratories in the U.S. and Europe, building a distinctive e-cigarette brand. At the same time, it will increase efforts in channel development and brand upgrading, with plans to become a leader in the vaping industry in 2019. The company aims to put into practice its entrepreneurial vision of changing the smoking habits of 1 billion smokers worldwide, encouraging more people to focus on health and enjoy life.The first product under the "BTM Beiye" brand, the Betterman X1 replaceable-pod vape, launched on JD Crowdfunding on October 24, 2018. It featured the latest generation of nicotine salt technology, claimed true zero tar, and aimed to provide a healthier cigarette alternative.
The data showed that during the 30-day crowdfunding period, it attracted 6,455 backers, raised more than RMB 1 million, and reached 1,056% of its fundraising target, making it one of the most talked-about e-cigarettes of 2018.
