YOOZ closes 200 million USD financing

The vape brand YOOZ has recently closed a new round of more than 200 million USD financing. The funds raised this time are mainly used for offline new and old store support, expansion and new product research and development.

According to the data, YOOZ was established in December 2018 and belongs to Beijing Qiwu Technology Co., Ltd. It has launched pod systems, disposable vapes, and multi-flavored cartridges. At present, the number of YOOZ franchise stores in China has exceeded 4000. Previously, YOOZ had completed a round of equity financing in January 2019, while the specific amount is unknown.

 

At present, the number of smokers in China ranks first in the world, but with the tightening of the national anti-smoking policy and the improvement of residents’ health awareness, electronic cigarettes, which are alternatives to traditional tobacco, are popular among smokers. Different from cigarettes with traditional smoking methods, e-cigarettes have the characteristics of not requiring combustion and providing nicotine but basically no tar. Although various countries have successively introduced regulatory policies for e-cigarettes, the enthusiasm for the development of the e-cigarette industry is unabated. Industry insiders said that the stricter the external regulation, the higher the degree of industry purification, and the more profitable capital will be.

 

2014-2022 global e-cigarette industry market scale data analysis

Electronic cigarettes have become an innovative electronic consumer product, which is becoming more and more popular around the world. From the perspective of the market scale development of the global e-cigarette industry, the overall scale of the e-cigarette industry is showing an upward trend. In 2020, the market sales of the global e-cigarette industry will continue to rise, reaching 42.4 billion U.S. dollars, a year-on-year increase of 15.6%. Although various countries have successively introduced regulatory policies for e-cigarettes, the enthusiasm for the development of the e-cigarette industry remains unabated. The strong growth of the global e-cigarette market is mainly attributable to the increasing acceptance of e-cigarette products by consumers, the active marketing activities of tobacco companies, and the acceleration of innovation and product development by e-cigarette manufacturers.

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