RELX vape raised 38 million yuan in the first round of financing

According to the news released by the Investment Industry today, a new brand of e-cigarette named Relx in China has been invested by the venture capital companies, and the amount isn’t small. The first round of financing is completed with 38 million yuan.

And the companies that invest are very famous, is Source Capital and IDG capital. This time led by Source Capital, IDG Capital followed the vote. In the investment circle, few people don’t know about IDG Capital. The Source Capital, investment masterpiece includes companies include Meituan, HomeLink, Mushroom Street, Today’s Headlines, etc, most all of them are the unicorns in its field.

Investment companies invest very cautiously in large investments, but why do they invest tens of millions in the first round of a new vape brand? According to reports, the founding team of RELX was from OPPO, Huawei, Chinese Academy of Sciences, Loreal, P&G, and Uber.

Kate Wang, the  Joy founder, said, “We are most happy about the moment when we hear the user say, ‘My bronchitis is better after the use of RELX,’ and ‘Using RELX for a month, I haven’t smoked a cigarette.’ – These feedbacks we heard are our team’s happy moment, RELX’s Chinese name is therefore called ‘Happy Moment‘.”

“Our team members smoked basically before. As a striver in life, cigarettes are an accompaniment to us. We aren’t unaware of the negative health effects of smoking. Some of our team members’ fathers died of lung cancer from smoking excessively at the bottom of life. We are committed to helping the change now. Our mission is to accelerate the transformation of the world’s one billion smokers into more healthy and enjoyable ways of smoking. May those who like smoking be happy and worry-free.” said Kate Wang.

Source Capital partner Huang Yungang said: “The RELX team is caring about the world and doing something of great social value. CEO Kate Wang has worked at P&G, Uber, and Didi, and has demonstrated strong leadership in past careers. The founding team has the combined experience of hardware, consumer products and the company network and is very suitable for this. And we are looking forward to the RELX team bringing more innovation to the industry.”

Niu Kuiguang, the partner of IDG Capital, stated, “RELX has made its own characteristics in product innovation, user experience and other aspects. Standing on the user’s needs, the RELX team is serious and persistent. They have accumulated and precipitated in the consumer and Internet fields. As investors, we are optimistic about the RELX team and are very pleased to participate in the first round financing of the company.”