Mistine Raises over CNY 200 Mn in Series A

Recently, Mistine, a beauty brand, has completed Series A of financing of more than CNY 200 million, led by Cathay Capital, followed by Everyi Capital, and lighthouse Capital as the exclusive financial adviser. According to the company's disclosure, this Series of funds will be mainly used for product R&D iteration, improving the supply chain, team building and brand promotion.

In 2016, Mistine, which entered the domestic market and integrated the advantageous genes of China and Thailand, successfully created a series of beauty products, including sunscreen series, base makeup series, skincare and beauty Series, personal care series, eye series and lip series with the differentiated positioning of waterproof and sweat prevention. The company has become the most prominent brand of Tmall and other electronic business platforms sunscreen and foundation category. The single star product Mistine small yellow hat sunscreen cream ranks first in Tmall sunscreen category sales, and the total sales volume of the whole network is over ten million.

The Mistine team is made up of experienced personages from the cosmetics industry and the Internet industry. Baoxia Zhuang, the two founders, has nearly 20 years of experience in the beauty industry. Yu Yu has 10 years of experience in the Internet plus beauty industry. Mistine hopes to bring some changes to consumers in a relatively dull life in the post epidemic era through products and brand activities.