HOPO vape raised 10 million yuan in A round financing
Hopo, a new vape brand in China, has raised 10 million yuan in Round A financing recently, which has not yet been disclosed by the financiers yet. After round A financing, HOPO vape will increase investment in team building and product development. At the same time, it will also reserve funds for future company operation and sales channel construction at home and abroad.
The CEO of Hopo disclosed that the core competitiveness of Hopo lies in the sales channels. Its shareholders are well-known domestic intelligent hardware companies with annual sales of nearly 2 billion yuan. Its mobile phone sales channels are rich especially in Southeast Asia, the Middle East and Europe. In terms of sales channel construction, Hopo mainly focuses on domestic offline retail channels this year, increasing the sales channels in its own franchised stores, retail stores, KTV, bars, Internet cafes and convenience stores.
Founded in January 2019, Shenzhen Hopo Technology Co., Ltd. has a team of veterans who have studied abroad in the United States and Canada, and have worked in the vape industry for many years, and have rich experience in Internet and e-commerce marketing and operations.
It is reported that HOPO has invested tens of millions of money in product research and development in the early stage of development, and will soon launch the first product HOPO – IRON. As to the atomization technology, its pods adopt a new structure design with multiple leak prevention, and perfectly solves the problems of e juice leakage, e-liquids escaping and dry burn in the industry.
In the field of e-liquids technology, the CEO of Hopo mentioned that the technological innovation of vape device is very limited, and the future direction of vape must start with the localization of e-liquid flavor, quality and taste. Hopo continuously optimizes the composition of the e-liquids and is committed to providing electronic cigarettes with better taste and healthier ingredients. At present, the e-liquid of Chinese tea series is being developed and is expected to be on the market in the second half of this year. This e-liquid uses natural flavors to replace traditional flavors. It extracts tea ingredients and refuses to use synthetic flavors, only to pursue a better flavor in atomization.
Although more details about product research and development haven’t been disclosed , HOPO has really put a lot of effort into product innovation.
HOPO’s brand concept is “atomization technology improves life”. The team will make better products steadily, gradually integrate them into the electronic cigarette market, delivering electronic cigarettes to smokers in a more comprehensive way, and create a freer atomization world.
HOPO CEO said, “The electronic cigarette products have not reached the final form at this stage, and there is still a lot of room for improvement. Therefore, in the situation of weak e-cigarette product development, poor supply chain and low user awareness, HOPO will invest 10 million funds in product development and brand marketing, which will further improve product technology innovation, device e-liquid matching degree and original flavor restoration, adhering to the concept of using technology to improve life.”
According to the data from the global market, there are about 320 million smokers in China, accounting for one-third of the total number of smokers in the world. Chinese smokers are about four times as many as American smokers. However, the penetration rate of electronic cigarettes in China is less than 1%, and that in the United States is over 13%. More than 1 billion smokers live in the world, and the development potential of electronic cigarette market at home and abroad is tremendous. HOPO’s innovation and technological strength will have a good performance in the fierce emerging electronic cigarette industry in the future.
Visit Hopo vapor official site