Electric Toothbrush Maker Soocas Raises $30M in Its Series-C Funding

Soocas, the electronic toothbrush maker has raised $30M in its series C funding round. The company is backed by Xiaomi. The investors included were Greenwoods Investment, Yunmu Capital, Cathay Capital,and Vision Knight Capital.

The new funding for Soocas arrived less than a year after the company bagged a series B fundings worth 100M Yuan last year.  Xiaomi is looking to develop IoT that encompasses smart televisions to electric toothbrushes and has been preparing by carrying out strategic investment for companies like Soocas.

The Shenzen-based Soocas have to face some serious competition from counterparts Roaman and Usmile. Since the Southern part of China is packed with robust supply chain resources, both Roaman and Usmile has also established offices in those regions.

When Soocas partnered with Xiaomi, then its overall operations was boosted because it allowed its portfolio companies to access to a huge online and offline distribution network throughout the world.

The toothbrush maker’s sales were good from the beginning itself and its margins have boosted over the years. The new fundings would be used for marketing purpose since Soocas is looking to cater more for the increasingsophisticated young consumers with toothbrushes.

Soocas was incorporated in 2016. The company has been tremendously meeting the increasing demands from the people since their disposable income increased. The company’s electric toothbrush is in high demand even though it is a new concept for the people.