Dingxing was established in May 2014 and completed three rounds of financing in less than two years, including Lenovo Star, the Angel Wheel of Everlasting Evergreen, the A round of Midea, LeTV and Lenovo Star, and this time Star Kun's B-round financing.
According to Ding Jing CEO Chen Bin, after this round of financing, Ding will increase investment in research and development, supply chain, offline service system, market promotion, etc., and began to force the home door lock market. Immediately after the financing, new product launches will be issued. The upgraded version of the Dingxing security door lock and the “Iris version†will be unveiled at CES Asia this year in Shanghai on May 11.
Ding Ying last year cut into the smart door lock market, the preferred channel is not the home market, but the Internet long-term rental field as a breakthrough, it can be said that the acceleration of the domestic smart door lock is also benefited from the development of domestic Internet apartments.
According to reports, Dingjiao apartment door locks shipped less than 60 million orders in less than half a year, currently shipping more than 20,000 units per month, occupying nearly 50% market share in the domestic apartment smart door lock field, 21 countries in the country by the end of the year The city has direct sales and installation delivery capabilities.
Toby Sun (Sun Weiyao), vice-investment director of Fosun Kunzhong Capital in the US Silicon Valley team, is the head of Ding’s investment in this round. He said that Dingxing is the first smart home enterprise invested by Fosun Kunzhong Capital in China and the United States. Lock is the choice of Fosun Kunzhong after long-term research in the field of smart home. In the process, in addition to Ding Ying, Toby has visited several famous American smart door lock companies in the past year, including the smart lock pioneers August, Lockitron and so on.
Toby believes that door locks are the most critical part of smart homes. In daily life, there are three major items: mobile phones, wallets, and keys. The wallet has been gradually integrated into the mobile phone. The mobile payment platform created by the two giants Alibaba and Tencent has successfully weakened the concept of the wallet. The only thing left is the key. And the current trend, like the wallet, the key to the last mile of the Internet is also destined to be opened. Fosun Kunzhong Capital first contacted smart door locks in the United States because it saw the rigid demand of this market after contact with Airbnb, the largest short-term rental platform in the United States. The emergence of smart door locks can help apartment managers achieve intelligent management and allow tenants to get a better living experience during the rental process.
Captain Chen Bin's strategic plan
“Since the company was founded, our goal has not changed. We are committed to becoming the world's leading provider of smart security products and platform services,†Chen Bin said in an interview.
Looking back at Chen Bin's two-handed strategy, one hand grasps the product and technology to stay ahead, and the other hand clear market strategy, cuts in from the rental housing, through the B-side quantity to open the back-end supply chain, distribute the national direct sales and installation delivery system, and then cut To the home market, through the creation of the 2C brand and word of mouth, back to the B-end, further consolidate the status of the rental housing market.
In the perspective of the home door lock market, Chen Bin is obviously not an idealist. He believes that in the market where content ecology, added value premium, and scale effect are not perfect, the speculation of hardware zero profit output is not feasible. In China, the door lock Only when the field is first heavy can it be done lightly, and there is no explosion mode in the short term. “The door lock is not like the socket or the bracelet. It will be slower at the beginning, but once the user uses it, the activity, stickiness and brand loyalty will be very high. It is challenging to cover 1 million families. We hope that Reach this number within 2~3 years"
Chen Bin revealed that Ding Jing will consider the overseas market, but did not disclose the specific plan. Coincidentally, Vicent, a US smart home system provider, announced that it has received a $100 million Series A investment from Peter Thiel and Solamere Capital. Vivint provides indoor integrated safety and energy control related services such as smart door locks, garage door control, indoor and outdoor monitoring, and house air conditioning. There are currently 1 million users with an annual income of 650 million US dollars. (Peter Thiel is one of the founders of Paypal and Palantir and the author of 0 to 1)
In Chen Bin's view, smart hardware will be a global competition in the future. China has obvious advantages in terms of market, talents, and supply chain. The example of vivint's investment in Peter Thiel also shows that there are huge opportunities in this field.
It is understood that Dingxing was established in May 2014. Founder Chen Bin served as the overall head of media cloud and smart home in Baidu, while Zhang Dongsheng was the head of Baidu Cloud OS security and wearable technology. Another partner was Gan. Tao was the director of Digital Channel Marketing in China. The company has grown to more than 60 people. As a technology-led intelligent hardware company, technicians account for more than 40%.
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