EqualOcean has learned that TYMO, a global personal care tech brand, recently announced the completion of a CNY tens of million of Series A funding round. The leading investor in this round was Calor Capital (康煦投资), with continued participation from existing shareholder 01VC investment (零一创投).
The funding also received support from relevant cross-border industry players. The primary objectives of this funding are to drive TYMO's global strategy through product innovation, channel expansion, brand promotion, and supply chain optimization.
TYMO, which aims to combine technology and fashion, is known for its innovative tech products that introduce consumers worldwide to more beauty possibilities. Its flagship product, the straightening comb, successfully merged the functionalities of a straightening iron and a comb, achieving remarkable success upon its launch in the European and American markets.
To date, TYMO has developed a range of core product series, including straighteners, curlers, hot air brushes, and high-speed hair dryers. These products have been successfully sold in 50+ countries and regions worldwide, with cumulative shipments exceeding millions of units. The company has sustained a continuous annual compound growth rate of over 100% in revenue for the past three years.
The global personal care appliance industry has long faced challenges such as a lack of product innovation, excessive homogeneity, and declining brand strength. However, the surge in sales of products like floor-cleaning robots and high-speed hair dryers in recent years indicates a strong consumer demand for small appliances that combine innovation, top-notch industrial design, and exceptional value for money.
TYMO initially established its presence on Amazon and its own DTC channels. Since 2021, the company has also entered premium offline retail channels such as Target and Costco, achieving a comprehensive online and offline, domestic and international multi-channel layout that effectively addresses the significant demand in the personal care market.
According to data from Beishizhe Consulting, the global personal care product market was valued at CNY 119.469 billion in 2022. Taking into account historical trends and development factors, it is projected that the global personal care product market will reach CNY 223.587 billion by 2028. Leading companies in the personal care product industry include Estée Lauder (雅诗兰黛), L'Oréal (欧莱雅), Procter & Gamble (宝洁), Johnson & Johnson (强生), and Colgate-Palmolive (高露洁), with the top three companies holding over 30% of the market share in 2022.
TYMO has established a strong brand momentum and accumulated a mature R&D system and the ability to replicate successful operations, forming a competitive barrier through a combination of deep product research and development, extensive channel coverage, and robust brand marketing. Moving forward, TYMO will focus on expanding product categories, channels, and geographical presence, driving the advancement of the company towards technology-driven, comprehensive product offerings, global multi-channel presence, and globalization.