SHENZHEN, China--(BUSINESS WIRE)--The China cutting-edge vape brand COEE has recently completed A-round financing of several million RMB, led by the QF Capital investment, followed invest by strategic industrial capitals.
'We mainly use A-round of financing to focus on improving our production R&D, layout in the global market channel, and user development as benefits of maintaining our product competitiveness and market influence.'
Tongliang Gao, co-president of COEE
COEE was established in January 2021 in Shenzhen, China. It is a user-focus vape company that integrates with the top vape industry supply chains and strong market channel partners. Their vision is to create an industry-leading vape brand. COEE has become the standing director unit of the E-Cigarette Industry Committee (ECIC) and China Electronic Chamber of Commerce (CECC).
COEE productions include the first generation 'Meet' series was launched in April 2021. Until now, 17 pod flavors have been launched. At the same time, vape peripheral products have been deployed, and the 'COEE Relax Enjoy' trendy collection stores have been launched. At present, COEE stores have covered 30 provinces and 180 cities in the China mainland, and various stores and sales points have reached nearly 5,000.
In recent years, the global vape market has developed rapidly, from 9.27 billion U.S. dollars in 2016 to 13.7 billion U.S. dollars in 2019 and 19.62 billion U.S. dollars in 2020.
'We are upholding the core values of long-termism, adopts innovative 'manufacturer to sale integration' channel strategy, consistently to respond and embrace policy supervision from the government, follow to the bottom line of protecting minors, and strives to become a marathon runner in the market.'
Tongliang Gao, co-president of COEE
Qiyuan Liu - Head of consumption investment in the QF Capital, said that the core operation team of COEE is mainly coming from the trading team of top mobile phone brands. The management team members integrate 3C, FMCG, and Internet industry elites. COEE Has unique experience in channel construction and terminal management. Capitals recognize COEE team capabilities very much, and we are seen COEE consistently put efforts in responding and cooperating with the supervision of the government. We are optimistic about the future development prospects of the project driven by demand.