Thursday, May 30, 2024

VOZOL raised 10 million yuan in financing – Elegomall led the investment


VOZOL, a new brand of electronic cigarettes, closes 10 million RMB seed financing round. The investor is Elegomall, an overseas vape distribution giant with powerful overseas sales channels.

Elegomall is a well-known sales platform which has been engaged in the electronic cigarette distribution business for nearly 10 years and has overseas sales channels in more than 70 countries and regions around the world.

This means some new changes in the investment of new e-cigarette brands, from financial investment by investment institutions at the beginning of the year to strategic complementary investment by companies with resources and sales channels.

vozol vape

The CEO of VOZOL electronic cigarette is Wen Guanhui, a continuous entrepreneur in the field of fast-comsumering products. In the previous project, he created several famous online famous brands on brown sugar and ginger paste, which accumulated rich entrepreneurial experience and extensive human resources in the field of consumering products.

Wen Guanhui said that he began to pay attention to the electronic cigarette industry in mid-2018. At that time, I was not interested in it. However, seeing his father’s painful process of quitting smoking made him have a real understanding and interest in the substitute products of cigarettes, so he began to investigate the electronic cigarette industry.

Through friends’ introduction, Wen Guanhui met Chen Rui, founder of Elegomall. After at least five meeting, Wen Guanhui decided to go on the road of entrepreneurship again and create a new brand of electronic cigarettes. Chen Rui was also moved by Wen Guanhui’s entrepreneurship and tenacity, so he decided to invest tens of millions of yuan as VOZOL’s first start-up fund.

In February 2019, VOZOL e-cigarette project was officially launched, and 40 teams have been set up: 20 R&D teams, from ID designers, structural engineers, electronic engineers to product managers, are senior practitioners with 5-10 years of experience in the e-cigarette industry, while the supply chain team is mainly from the e-cigarette head manufacturing enterprises. This team has built a leading brand Supply chain in the current domestic market.

Wen Guanhui believes that owning its own R&D team and supply chain resources, without excessive constraints on substituted factories, can make more innovative and reliable products, can also respond to market demand faster, and form a real core competitiveness.

This is quite similar to Zhu Xiaomu, founder of FLOW. The influencer brand FLOW has started to build its own factories to develop and control its production capacity independently.

At the same time, the investor Elegomall not only gives money, but also assists in docking various industry-class resources. Through the lead-up of Elegomall, VOZOL electronic cigarettes selected a medium-scale electronic cigarette manufacturing enterprise with about 300 people invested by Elegomall as a substitute factory.

According to Wen Guanhui, this is his brother company. Its production response speed and quality control ability are also better than some brand that’s relied on the model of external factories which can not be fully controlled.

This is Wen Guanhui’s preparation for VOZOL electronic cigarettes in the R&D and production supply chain construction, then there is a more important issue, how the new brand sell products.

At this point, we need to introduce Elegomall again.

vozol vape

Chen Rui, founder of Elegomall, first engaged in the overseas distribution of electronic cigarettes back to 2009, and then officially launched the Elegomall brand in 2011. He has been committed to building the most comprehensive and influential online electronic cigarette supermarket in the world, providing overseas electronic cigarette wholesalers, retailers and end consumers with the purchase of Chinese products, a platform for electronic cigarettes.

After more than eight years of development, Elegomall has grown into a world-renowned channel distribution enterprise in the vape industry, operating in more than 70 countries and regions worldwide, with annual sales revenue of more than 1 billion yuan.

VOZOL’s products once produced can enter Elegomall’s original distribution and sales channels immediately covering all the major global electronic cigarette markets.

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