The funding raised roughly CNY 100 million, and it will mainly be used towards product research and development as well as team building and user operations.
Hi!papa announced on March 11, 2022 that the company is near complete in its Pre-A funding, led by Zhongyuan Capital and followed by EdgeVentures. Rongshi Capital will act as Hi!papa's exclusive long-term financial advisor.
Hi!papa was founded in 2019 in Guangzhou by Jiangsheng Xuyu. The company focuses on personal care products for children from age of 3 to 12. Hi!papa aims to develop safe and effective products for children. As of today, Hi!papa has already released its own lip balm, sunscreen, face wash, shampoo and conditioner, moisturizer and more.
As a father himself, Jiangsheng noticed that the brands that currently dominate the market are filled with many chemicals that may have adverse effect on children who tend to have sensitive skins. Hi!papa developed a sunscreen that used only 12 ingredients as oppose to other brands that use from 14 to 37 ingredients. The sunscreen sold over a million units within four months of launch. Hi!papa is primarily using online platforms like Tmall, Douyin, and Kuaishou for sales and product promotions.