FlyingFish Group’s Deerma closes RMB380m Series B round

2020-07-09
|
Isiah Liu

FlyingFish Group’s Deerma closes RMB380m Series B round

On July 5, FlyingFish Group’s subsidiary Deerma Electrical Appliances completed 380 million yuan in a Series B round of financing. The investors include Cathay Capital Private Equity, Jinyi Capital and Fortune Capital.


Proceeds from this round of financing will be used to invest in product development, innovation in marketing, overseas development, among other aspects.


Previously in June 2018, Deerma had garnered 500 million yuan in Series A round invested by CPE; in October 2019, 330 million yuan Series A+ round by Charisma Partner, GenBridge Capital and Oppein Home Group.


FlyingFish Group is a VI design company that incubated the Internet small home appliance brand Deerma in 2011.


The company is characterized by original product design and high cost performance, and has won international design awards such as iF and RedDot for several years.


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