The China-based vapor company COEE has recently completed A-round financing of several million yuan, led by QF Capital investment, followed by investments from other financial groups.
“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,” said Tongliang Gao, co-president of COEE, in a statement. “We are upholding the core values of long-termism, adopt[ing] innovative ‘manufacturer to sale integration’ channel strategy, consistently respond[ing] and embrac[ing] policy supervision from the government, follow[ing] to the bottom line of protecting minors, and striv[ing] to become a marathon runner in the market.”
Established in January 2021 in Shenzhen, COEE is a user-focused vape company that integrates with vape industry supply chains and strong market channel partners, according to the release. COEE has become the standing director unit of the E-Cigarette Industry Committee and China Electronic Chamber of Commerce.
COEE products include its first-generation “Meet” series that was launched in April. The device now offers 17 pod flavors. COEE stores have covered 30 provinces and 180 cities in the China mainland, and various stores and sales points have reached nearly 5,000. Qiyuan Liu, head of consumption investment for QF Capital, said that COEE’s core operation team previously worked in the mobile phones market.
“COEE has unique experience in channel construction and terminal management,” Qiyuan said. “Capitals recognize COEE team capabilities very much, and we are seeing 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.”