Baseus has strong ambitions for the overseas market
Chinese consumer electronics brand Baseus Technology Co., Ltd. announced the completion of a multimillion CNY A+ round financing In mid-December 2023; Shenzhen Capital Group led this round of financing, with C&D Emerging Industry Equity Investment, Gaorong Capital, and Yuexiu Industrial Fund participating as well.
It is understood that Baseus Technology will use this financing to continuously invest in new product development, accelerate the construction of overseas markets, and adjust and optimize its operational strategies in foreign markets. This could be seen as its ambition to deeply engage in the 3C overseas market and challenge the position of the consumer tech giant Anker Innovations.
Earlier that year, Baseus Technology, for the first time in its 12-year history, conducted external market financing and announced the completion of a multimillion RMB A round financing with investment from Shenzhen Capital Group, Gaorong Capital, Yuexiu Industrial Fund, CICC Capital, and CICC Pu Cheng.
Baseus Technology, established in 2011 and headquartered in Longgang, Shenzhen, is primarily engaged in the design and development of mobile digital products. The brand Baseus is derived from the concept 'BASE ON USER.' It integrates design, development, sales, and production to provide mobile digital and smart hardware products, including charging, audio, in-car, and outdoor power supplies.
Baseus employs a multi-channel marketing model that encompasses foreign and cross-border e-commerce, online and offline sales, distribution channels, traditional advertising, and exposure on emerging social media platforms. Since 2016, Baseus has expanded into cross-border e-commerce and online marketing. Currently, 60% of its sales come from foreign e-commerce and 40% from cross-border e-commerce.
On July 15, 2019, Baseus announced its entry into the US market and plans to establish 10 flagship stores there. On May 23, 2022, Baseus opened its first physical store in the Middle East on Salah Al Din Street in Mauritius. Baseus has partnered with local distributors to showcase its innovative products in various settings, such as home, office, and car. These products cover charging, car accessories, and creative living.
In August 2023, Baseus held a global product launch event in Berlin, where they showcased over 20 innovative products, including digital power supplies, headphones, mobile power supplies, and charging stations. At IFA 2023 in Berlin, Baseus introduced new products such as the Eli Sport 1 wireless headphones and Baseus Blade series laptop power products. This demonstrates their commitment to exploring emerging areas like smart homes and wearable devices.
As of 2022, Baseus has over 300 million users and 700 stores worldwide, with 40% of sales coming from overseas.
Baseus specializes in digital power supply and offers fast charging technology to provide users with efficient and convenient charging experiences. According to Euromonitor data, Baseus was the second-ranked global mobile charging brand in 2020, 2021, and 2022, behind only Anker in terms of market share.
Gartner, a market research company, predicts that the global consumer electronics market could reach a scale of around USD 1.4 trillion in 2023, driven by continuous demand from global consumers for high-tech products. This market growth presents significant opportunities for industry players like Baseus.