Fashion Phone Case Brand MakerMaker Secures Tens of Millions of Yuan in Round-A Financing
MakerMaker, a fashion phone case brand, announced today its completion of round-A financing in which it secured tens of millions of yuan, with Xiaomi and Shunwei Capital as investors. The funds raised in this round will be mainly used for the production of “MakerMaker Smartphone Case DIY Machine.”
Since December 2019, the smartphone case DIY machines developed by MakerMaker have been put into use in Beijing, and its users are mainly aged 15-25. Consumers can choose their own photos or use the AI templates provided by MakerMaker to create phone case designs. People can also directly purchase the co-branded smartphone cases. Currently, MakerMaker has been running hundreds of smart DIY machines in China.
Han Bing, founder and CEO of MakerMaker, pointed out that, “In terms of investment, we mainly consider institutions that can strategically help our business. For example, Xiaomi‘s strategic investment offers us opportunities to jointly operate with Mi Home stores and interact with the Mi Fan community. Based on the strong community of Xiaomi, we can provide customized services.”
Fashion phone cases represent a relatively undeveloped market.. In the past, users mainly relied on online shopping channels like Taobao and physical stores to buy smartphone cases.
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Traditional smartphone accessory stores generally cover a small area with limited supported smartphone models, high inventory pressure and high labor cost. It is difficult for many non-mainstream smartphone model users and consumers who pursue personalized design to buy suitable and desired smartphone cases. Although Taobao also sells DIY smartphone cases, the product quality is uneven, which makes it more difficult for consumers to buy good phone cases.
According to MakerMaker, there are nearly 2 billion smartphones in China. With the upgrade of 5G, smartphone manufacturers frequently introduce new models, and the update time of smartphone and smartphone cases is shortened. Young consumers are likely to change their phone cases every 1.5 months on average. Personalized design satisfies the demands of consumers, and makes the frequency and number of smartphone cases purchased by them continue to rise. This means that the industry of DIY phone cases is a blue sea market.
