February 9, 2023

JMGO, a wise projector logo, has secured 1 billion yuan ($157 million) in new financing, 36Kr reported on Tuesday. The co-investors had been OPPO, IDG and Lexun Tiancheng. Fangchuang Capital used to be the unique monetary adviser.

The finances are supposed for use as operating capital to fortify the growth of JMGO’s trade scale, and to put money into key strategic companies reminiscent of generation reserves, product building, channel enlargement and logo promotion.

JMGO used to be based in Shenzhen in 2011, that specialize in the sector of good projectors. JMGO began out from good house projectors, freeing a number of product traces together with the G sequence for family use, P sequence for transportable use, J sequence for family efficiency, U sequence for high-end laser TVs, O sequence for wall or projection surfaces and extra. In 2020, JMGO introduced its personal “LUNA” running gadget.

OPPO is a brand new business investor offered on this spherical. Hu Zhenyu, founder and chairman of JMGO, claimed it used to be on account of the certain building attainable of industrial collaboration between the 2 corporations that JMGO selected OPPO. The 2 can have trade overlap as OPPO is growing its IoT trade and increasing its good house ecology in response to smartphones. Moreover, JMGO will take pleasure in OPPO’s provide chain assets and channels. JMGO P3S transportable projectors are actually to be had at the OPPO channel.

The new financing represents a pre-IPO spherical for JMGO. Requested about its record plan, Hu Zhenyu admitted Shenzhen Huole Era Construction Co., Ltd., the dad or mum corporate of JMGO, had intentions of going public, however added that this isn’t without equal purpose. The corporate nonetheless makes a speciality of strengthening its basis and making improvements to control of provide chains, manufacturing, gross sales and delivery functions.

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Opto-mechanical design is the technical core of projectors, the place the sunshine supply gadget is a prerequisite for the design of the projection optical gadget. By contrast to conventional lamp gentle resources, LED is by way of some distance the primary form of gentle supply in utility lately, commanding nearly all of the marketplace percentage. As well as, laser gentle resources also are rising swiftly, because of its upper brightness, despite the fact that the marketplace percentage remains to be very small because of excessive prices.

JMGO merchandise basically undertake LED gentle resources, despite the fact that it introduced its first laser TV in 2016 and made steady technical investments and product iterations for laser gentle supply projectors.

JMGO has equipped content material basically for movie and TV assets previously, and now it has steadily branched out into new eventualities reminiscent of health and yoga, kids’s schooling, song, karaoke and cloud video games. It has additionally introduced branded equipment together with wi-fi microphones, gamepads and three-D glasses. Hu Zhenyu expressed the expectancy of this section of income as a core engine of content material income expansion.

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The good projection marketplace has witnessed a excessive expansion level lately. As in step with RUNTO, the gross sales gadgets of the Chinese language good projection marketplace (apart from laser TVs) reached 4.803 million gadgets in 2021, up 29% year-on-year, with a gross sales quantity of eleven.61 billion yuan, up 32.2% year-on-year.