The 'intelligent trashcan' manufacturer aims at changing people's lifestyles with smart waste management.
Image credit“Toll Gallery”
On January 11, 2021, Townew announced that it had completed a Series A financing with over CNY 10 million, which is invested in by several unnamed A-share listed companies, with Ocean Capital as the exclusive financial consultant. It is reported that the funds will be used to further consolidate technical barriers and expand brand influence. Previously, the company received three rounds of financing. It obtained the seed round financing of Haiquan Fund in 2017, an angel round financing leading by Shihou investment and Yuhe Fund in early 2018, and CNY 10 million pre-A round from JD and Sichuan Dingxiang Investment Fund in late 2018.
Founded in Shanghai in 2014, Townew is a popular intelligent trash cans manufacturer. The company focuses on the development of automatic, self-packing intelligent trashcans. Matthew, the founder of the company, was the founder of Dokee Technology, an online retail platform. The company has launched three series of trashcans: T series high-end intelligent trashcans, a C series limited set of trashcans, and a full-scope application package system. The product basically covers the needs of various types of daily life for a family. The price range of its smart products is between CNY 269 to 599, and its target customers are middle-class families and new white-collar workers in first and second-tier cities. It is a start-up to watch in 2021.