OPPO Invests in Projector Maker JMGO
Shenzhen Huole Technology Development Co., Ltd., the parent company of JMGO, has recently made a change to its registration with China’s Industrial and Commercial Administration, adding OPPO subsidiary Xunxing Investment (Chongqing) Co., Ltd. as a shareholder, maintaining 1.7699% of shares.
According to Chinese business enquiry platform Tianyancha, Huole Technology is an intelligent projection equipment developer. It was established in 2011, and has an excellent software and hardware R&D team. It focuses on building the industry’s first intelligent home theater ecosystem integrating “terminal + content + platform + software.” Its legal representative is Hu Zhenyu and its registered capital is 44.7693 million yuan ($7.05 million).
The largest shareholder is Hu Zhenyu, while others include Alibaba Group Holding Limited, Shenzhen Dachen Chuangfeng Equity Investment and Guoxin Capital Co., Ltd.
In November 2020, JMGO announced its completion of an E1 round of financing worth several hundred million yuan, with lead investor Yuanda Venture Capital.
Huole Technology has been invested in by Fortune Capital, IDG, Green Pine Capital Sky, Times Bole, BRICS Silk Road Capital, CICC-Qianhai Development Fund Management, and others. In October 2018, it completed a D round of financing led by Alibaba and followed by 36Kr Fund.
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As of November 2020, JMGO Projector, a brand owned by the company, has won the top spot in Tmall’s Double Eleven projector category for four consecutive years, and is also the designated smart projector brand in China in the 2020 League of Legends Global Finals.
In addition, on November 11, 2020, the core day of the Double Eleven Shopping Festival, the sales volume exceeded 100 million yuan in only 36 minutes, and the total sales volume reached 280 million yuan on Tmall.
