Aug 28, 2023

Share The new domestics contact lenses brand MOODY recently completed its two rounds of financing of $8 million USD, of which the Angel round was led by Hillhouse Capital, and the Plum Ventures was followed by investment; the round A was led by Matrix Partners China, co-invested by Source Code Capital, and GL Ventures cast a continuous raise. Previously, MOODY had been led by Yisan Capital, Plum Ventures followed the seed round of financing, and Palm Capital served as the exclusive financial advisor for the two rounds of financing. MOODY’s co-founder Biao Cao was the national sales director of Johnson & Johnson, served as the general manager of CooperVision in China, and has decades of experience in the contact lens industry. The company claims that MOODY’s cooperative factory used to only manufacture OEM Japanese lenses, and the company reached in-depth cooperation with it. In less than half a year since its launch, MOODY has laid out all channels on platforms such as Xiaohongshu, Weibo, TikTok, and Bilibili, especially in the new content channels loved by those born after 1995, to quickly realize the cold start of the brand. According to the data provided by the company, there are more than 500,000 fans around the MOODY station, and the consumer group covers those born in the 90s to 2000s. MOODY’s products have been online for 4 months, and with the comfortable experiences from the consumers, the repurchase rate can reach more than three times the average level of the makeup industry. According to the survey, myopia patients in China are expected to reach around 700 million by 2020, of which the prevalence of myopia in the 16 to 24-year-old age group will reach 94%. The myopia population continues to expand, spawning the development of contact lenses, superimposing rapid outbreaks of the beauty products market, contact lenses have also become a special subdivision in the makeup field.