On January 12, FreeYond received an angel round investment of nearly 100 million yuan from a Malaysian consortium led by Datuk Chai Woon Chet, a famous Malaysian investor.
The completion of this funding round marks the fast track of FreeYond's development after the completion of the start-up phase business model validation. The financing will also significantly boost the pace of FreeYond's new product development and global market expansion.
Datuk Chai Woon Chet is a well-known Malaysian investor who holds a number of listed companies and has investments in telecommunications, finance, and real estate.
At the same time, FreeYond will join hands with Datuk Chai Woon Chet to leverage his outstanding business influence in Southeast Asia to develop markets in Malaysia, Indonesia, Thailand and Singapore.
FreeYond was founded on May 9, 2022 under the leadership of Dr. Yu Lei, former Global Vice President of Gionee Group. The company is committed to redefining consumer electronics with Technology 4.0 through its core pivotal product, the smartphone.
FreeYond has launched 2 smartphone products and 1 TWS headset in more than half a year at an ultra-high speed that is rare in the cell phone industry. At the same time, with precise strategic judgment, it rapidly expanded its sales network to Latin America, Africa, Southeast Asia, and Central and Eastern Europe, completing the initial layout of globalization channels.
As of January 12, the number of countries and regions where FreeYond has completed the signing of country agents reached 31. It has been launched on many global or regional head e-commerce platforms such as AliExpress, Mercado Libre, Jumia, Amazon, Shopee, etc., and has gained good sales results as a new brand.
Recently, FreeYond was awarded "21st Century National Innovation Company 50" by the 21st Century Venture Capital Institute for its rapid growth and innovative development strategy of "redefining consumer electronics with technology 4.0 from smartphones". The company's co-founding team, all from the 21st Century Venture Capital Institute, is a member of the "21st Century National Innovative Companies 50".
The company's co-founding team comes from the core executive team of the Gionee Group, which is responsible for the brilliant achievement of 40 million units of annual sales of Gionee Mobilephones, as well as head companies such as TCL, Longqi, Xiaomi and Transsion.