Children's educational toy brand Best Childhood received 71 million yuan in Series A financing, led by Matrix Partners China
On March 30th, children's educational toy brand BravoKids-Best Childhood officially announced the completion of 71 million A round of financing, led by Jingwei China, challenger Capital and old shareholder former Baidu co-founder Xu Yong followed up. This round of financing will be mainly used for the development of its own products and the expansion of new channels such as Douyin e-commerce, as well as the deep cultivation of offline stores. According to the Enterprise Check App, Best Childhood is affiliated to Shanghai Best Childhood Maternal and Infant Products Co., Ltd. The company was established in 2017 with a registered capital of approximately RMB 1.43 million. The legal representative is Lai Chao. Its business scope includes publication wholesale and publications. Retail, food management, e-commerce, model design, handicraft design, animation design, product packaging design, etc. In terms of financing, Best Childhood received an angel round of financing in 2018. The old shareholder and former Baidu co-founder Xu Yong invested 10 million yuan. Best Childhood was established in 2017, with puzzle + aesthetics as the core product development direction, and the integration of Montessori early scientific education concepts with products, to provide children aged 0-8 with benefits that are more suitable for the sensitive period of growth. Wisdom toys. At present, the company's products are divided into two product lines, one is educational toys, the other is enlightenment education. The company has launched more than 700 SKUs, of which more than 200 are purely self-developed SKUs, with an average unit price of about 200 yuan. Best-selling product of Best Childhood Bilingual Enlightenment Early Learning Machine, which uses NFC hidden chip, can realize interactive learning without electronic screen. Another product is a 21-day creative handmade art box. It will be online during the Spring Festival. With a parent-child handmade lesson every day, it effectively solves the anxiety of parents in the new year during the epidemic. It sold more than 10,000 pieces in one week. The cat art category ranked first in the entire network. In terms of online channels, Best Childhood Tmall flagship store opened in the second half of 2020, and currently has a total of 200,000 users. According to the 'White Paper on the Development of China's Toys and Baby Products Industry in 2020As a result, Best Childhood was also deployed offline simultaneously. Since the opening of the first store of Beijing Heshenghui in 2019, it has opened 16 self-operated and franchised stores in the core shopping malls of Beijing Chaoyang Joy City, Beijing IKEA Huiju, Shanghai Nanfeng City, etc., with an average of 100 square meters- Around 200 square meters, it is reported that offline stores are more responsible for brand endorsement. Among them, the number of members in Best Childhood’s offline stores has exceeded 80,000. The team is expanding the technical team to improve the data level of offline stores and optimize the operation of offline member groups centered on store location to achieve Better integration with e-commerce. At present, Best Childhood has developed 5 product lines totaling 700+SKUs, with an average monthly GMV of nearly 10 million yuan, and the number of fans in the Tmall flagship store has exceeded 120,000 in half a year. In the supply chain, Best Childhood now has as many as 180 factories in-depth cooperation, including a large number of factories that previously only made OEMs for overseas brands.