Shenzhen Amazon's best seller received over 100 million yuan in financing!

Another cross-border seller has gained favor from capital.

With the popularity of live broadcasting, short videos and outdoor travel, consumers' demand for high-quality images and videos has increased, driving the growth of the market demand for photography and video equipment. A number of big sellers have emerged in various segments, and Hohem Tech is one of them. Its products have been ranked among the Best Sellers on Amazon's major sites for many years .

Focusing on niche areas, Damai received over 100 million yuan in financing

Recently, Shenzhen Hohem Technology Co., Ltd. (Hohem), a developer and seller of high-performance image stabilization systems, successfully won over RMB 100 million in Series B financing, which will be used for product technology development, market promotion and channel layout. The financing was led by Shunwei Capital and Legend Capital, followed by Xiaomi Strategic Investment, Yunqi Capital, Tongchuang Weiye and Yunmu Capital.

Since its establishment in 2014, Haohan has completed four rounds of financing. The other three rounds of financing were the A round of financing in 2016, and the A+ rounds of financing in 2020 and 2021.

As Haohan has frequently received the favor of capital, it can be said that he has a great background.

Public information shows that Hohem is committed to the independent research and development, production and sales of high-performance image stabilization system products. It has successfully launched a series of products including sports camera stabilizers, the world's first mobile phone stabilizer with face tracking, and professional camera stabilizers. Its Hohem mobile phone stabilizers, sports camera stabilizers, SLR camera stabilizers and other smart imaging terminal equipment stabilizer products are sold well in more than 50 countries around the world . In 2023, the company was named "Shenzhen's Top 100 Independent Innovation SMEs", and its revenue increased by 50% to 500 million.

Behind the impressive revenue, the company's products are constantly winning the hearts of overseas consumers. In 2017, the company's first foldable mobile phone stabilizer raised over one million US dollars through crowdfunding on Indeogogo. The series of products launched in 2018 were highly recommended by influencers and became a hit product on Amazon. In 2019, the upgraded version of the iSteady series of products dominated the Best Seller rankings on all major Amazon sites.

The latest data shows that Hohem's online sales share in overseas markets has reached 25%. In fact, Hohem is already an absolute leader in the global sports camera stabilizer market, accounting for about 70% of the global market share.

A number of outstanding players have emerged in the field of photography and videography

Beyond the vastness , there are many outstanding players in the field of photography and videography.

SIRUI Optics was founded in 2006. It mainly produces and sells interchangeable optical lenses, tripods, pan/tilt heads, photography lights, moisture-proof cabinets and other photography and video equipment products under the "SIRUI" brand. Its products are used by photography enthusiasts, professional photographers, imaging media, film and television practitioners, studios, live broadcasters, etc.

In recent years, SIRUI Optics has attached great importance to its overseas online layout and has opened sales channels such as Amazon and independent websites.

SIRUI Optics ' sales in the Amazon B2C channel continue to grow every year, with sales reaching 38.9735 million yuan in 2023 , an increase of 21.0545 million yuan from 2022. Its tripod products such as AM-326M, 5C Carbon Fiber Traveler, VH/VA fluid head and 1.33x zoom movie lens have been selected as "Amazon's Choice" many times.

In order to promote the brand's official website, cultivate users' brand loyalty, and form a private traffic pool, SIRUI Optics also began to increase investment in the operation of independent stations in 2023. In 2023 , the online sales revenue of the independent station platform increased by 17.7689 million yuan to 29.3942 million yuan.

In the selection of Indiegogo, the world's largest science and technology crowdfunding and new product launch platform , SIRUI Optics' "SIRUI" brand won the "Most Valuable Brand of 2021" and won the "Best Community Operation Award" for two consecutive years (2020-2021).

Compared with SIRUI Optics , Guangdong Benro Imaging Technology Industry Co. , Ltd. ( Benro ) was established earlier. In 1995, it began to focus on the research and development of professional photography tripods, photography heads, photography bags, optical filters, moisture-proof boxes and other products . In the domestic market, it has maintained a certain market share for many years , and has been awarded the "Popular Photography Brand (Professional Tripods, Heads)" and "Tripod Brand Favorite by Netizens" by domestic professional photography media , and has repeatedly won the "Influential Imaging Product Award" and "Annual Cost-effectiveness Award" and other honorary titles awarded by professional photography media.

In recent years , Benro has begun to venture into the international market, and has established Benro sales agents in more than 40 countries including Europe, the United States, and Japan , and opened stores on platforms such as Amazon. The editor searched on the Amazon platform and found that many Benro products are about to be out of stock. You can imagine the hot sales of Benro products during the just-passed Black Friday and Cyber ​​Monday.

In addition to Benro and SIRUI, there are many cross-border sellers in the field of photography and videography, such as DJI, Insta360, Ulanzi, SmallRig, Viltrox, Zhiyun, Neewer and other well-known players.

The photography and videography market is vast, and Chinese sellers are latecomers and have taken the lead

The booming sales of photography and videography products are closely related to the broad prospects of this market.

According to 360 Market Updates data, the global photographic and video equipment industry market size reached US$93.75 billion in 2022, and is expected to reach US$120.63 billion in 2028. The photographic and video equipment industry has a huge market size.

According to data from GlobeNewswire, the global camera accessories market size will be US$3.18 billion in 2022. With the increasing popularity of photography and videography and the advancement of camera technology, the global camera accessories market size is expected to exceed US$8.43 billion by 2030, with an average annual compound growth rate of 13.2%. North America is the main contributor to the growth of the camera accessories market , accounting for the largest share of the global camera accessories market . Europe is also maintaining a stable market growth rate. In addition, driven by the rapid innovation of young people's demand for media and entertainment, the Asia-Pacific region is expected to become a region with a more obvious growth in the camera accessories market.

As people's requirements for high-quality picture taking and video recording become higher and higher, the market demand for interchangeable optical lenses continues to grow . By 2026, the market size of movie lenses and photographic lenses will reach 2.574 billion yuan and 23.167 billion yuan respectively .

Although my country's photography and videography industry started late, as domestic companies continue to improve the precision and stability of their products, launch optical lenses with higher resolution and more stable imaging quality, and produce and design tripod and pan/tilt products that meet the needs of global consumers, Chinese photography and videography equipment manufacturers have gradually gained a firm foothold in the international market, participated more in global competition, and shown a trend of catching up with international giants.

Taking the optical industry as an example, from a national perspective, the precision optical industry has basically formed four major industrial clusters represented by the Pearl River Delta, the Yangtze River Delta, Fujian, and Jiangxi. The Pearl River Delta region is represented by Tamron Optics (Foshan), United Optoelectronics, and Yutong Optics; the Yangtze River Delta region has a large market share in the emerging consumer electronics (mainly smart phones) and automotive lens fields; Fujian mainly produces optical lenses used in security video surveillance, emerging consumer electronics, and other fields; Jiangxi mainly produces optical components and optical lenses used in emerging consumer electronics.

Amazon Platform