SNOWPLUS Successfully Raises Funding, Continues Global Expansion Efforts
Partners with Key Allies in International Distribution
March 12, 2020 – Beijing – Today SNOWPLUS has announced global investment results from 2019 through February 2020 amounting to approximately $125 million USD. The funding has come from investors in Asia, North America, Europe and the Middle East.
The company has confirmed funding from Hong Kong-based HK Rothsfortune Investment Management Limited among other investors as it further prepares for entry into global markets.
“We have invested in SNOWPLUS because of their strong global strategy which sets them up for success in both domestic and international markets,” said Charles Zhu, Managing Partner of HK Rothsfortune Investment Management Limited. “With strong performance in the domestic market, SNOWPLUS has proven that they are capable of achieving success and fulfilling their mission of providing better smoking alternatives for adults at the global level.”
This funding has already seen the establishment of sales teams, partnerships and other expansion efforts across four regions globally including North America, Europe, the Middle East and Africa and Southeast Asia. SNOWPLUS has a fully developed international strategy that involves responsibly expanding into global markets by working with local industry players.
The company will strengthen its presence in the domestic market as it continues to actively expand to targeted international markets with more optimized environments for SNOWPLUS products, bolstering its presence on the international stage.
“This latest round of investment puts us one step closer to realizing our vision of providing better alternatives that satisfy adult smokers globally,” said Derek Li, Co-founder of SNOWPLUS. “Moving forward, we will continue to innovate, applying the latest and most cutting-edge technologies to our products to provide global adult users the optimal vaporizer experience. We will also remain steadfast in forging industry alliances and joint ventures with local companies.”
Progress has already been made in deployment to these global markets, with the building of teams in the UK, Canada and the Middle East. A UK warehouse has already been set up to ensure a steady supply of product in the country, and SNOWPLUS products can be purchased at 50 Esso convenience store locations in Canada.
Expansion efforts are also underway in Southeast Asia, with SNOWPLUS developing nicotine-free products for the Malaysian market. Meanwhile, in the Indonesian market, SNOWPLUS is currently applying for official licensing of offline stores and plans to work with local e-liquid industry players to develop flavors suited to local tastes.
Moving forward, SNOWPLUS plans to leverage investment to further expand worldwide, while maintaining a solid foothold in its home market of China. With funding from respected industry players in the capital market, SNOWPLUS is not only continuing its proven record of developing top-of-the-line vaping products and technologies, but also paving the way for a smooth entrance into key global markets that have a demonstrated demand for vape products.