EqualOcean has been informed that HomeRun (Chinese: 霍曼科技), a smart pet hardware company, has announced the completion of nearly CNY 100 million in Series C financing.
Founded in 2015, HomeRun is an independent research and development company specializing in artificial intelligence technology products. It has made research, development and production of AI pet feeders, smart pet companion robots and a variety of smart pet hardware its strategic agenda to provide family customers with a more humanized smart living experience. As of 2022, HomeRun's total online sales have exceeded 200 million yuan, and it has become a core pet brand on major e-commerce platforms such as Tmall, Jingdong and Jitterbug.
Currently, HomeRun has launched a total of 17 products, 70% of which have become explosive models. For example, the smart feeder ranked top1 pet feeder on the e-commerce platform, the smart water dispenser had cumulative sales of more than 500,000 units, pet drying box also sold nearly one million units, ranked top1 in the category of the e-commerce platform. founder Kun Liu introduced, HomeRun relies on the product step by step to accumulate word of mouth, a user repurchase rate of more than 50%, and a user recommendation rate of more than 85%, the company has realized a positive profit.
At the same time, HomeRun has established cooperative relationships with 2,350 retail outlets in 197 cities across China and signed collective agreements with 42 industry head distributors. In addition, HomeRun has launched crowdfunding campaigns in China, Taiwan and Japan, making it one of the most significant pet projects among crowdfunding platforms. Currently, HomeRun has become a global technology company with a multi-category and three-dimensional layout in the field of smart pet supplies; its products have been sold to more than 30 countries and regions, including China, the United States, Japan, Canada, the United Kingdom and Germany.
As a product R&D-oriented company, HomeRun now has an R&D team of nearly 100 people, and the design and development process of each product is extremely rigorous, which must go through the process of user insight, product definition, program demonstration, design conversion, small batch trial production, mass production, and market launch.HomeRun has obtained 146 patents at home and abroad and 15 invention patents, and has received the honorary qualification of national high-tech enterprise; HomeRun has obtained 146 patents and 15 invention patents and the honorary qualification of national high-tech enterprise. HomeRun has also established long-term product and technology cooperation with many universities and research institutes.
It is reported that the company plans to expand its product line from cats to dogs and strengthen cooperation with channel partners to further expand market coverage through cooperation with retailers and e-commerce platforms so that more pet owners can enjoy the convenience and fun of HomeRun products.
This round of financing was led by Shenzhen Capital Group(Chinese: 深创投), followed by Li Zexiang, 37Interactive Entertainment(Chinese: 三七互娱) and other investors. Proceeds from the financing will be used to further accelerate product development and expand market coverage.