ZHUHAI, China, Aug. 17, 2022 /PRNewswire/ -- On Aug 17th, 2022, Angry Miao officially announced the completion of a new round of financing, accumulating millions of US dollars in funds. The investment was made by Lenovo Capital and Incubator Group (LCIG), valued at more than 100 million US dollars. Before this round of financing, Angry Miao had already obtained multiple rounds of financing, with investors including ZhenFund and DragonBall Capital.
Angry Miao's brand slogan is Future Art Community. Established in 2019, Angry Miao has released numerous tech products designed to express subcultural trends, co-created through close interaction with the community. Top tech media (such as TechCrunch) and global fashion media (such as HYPEBEAST) have repeatedly reported on Angry Miao's products. By fans, Angry Miao is commonly regarded as the Kith of the tech industry.
Until now, Angry Miao has released a number of distinctive tech products, including CYBERBOARD - a custom mechanical keyboard and AM HATSU - a Westworld-inspired full wireless split ergo keyboard with a 3D curved metal body. Images of the yet to be released CYBERBLADE wireless earbuds also suggest great things.
Angry Miao has adopted a global D2C sales model, where products are sold directly to end consumers around the world through Discord and Shopify. A limited "pre-sale" system is often used, where users place their orders months in advance. Most of these products are sold out or out of stock. Presales are only held several times a year, accumulating a sales volume of 1 million US dollars in 2020, over 3 million US dollars in 2021, and further growth likely in 2022.
Angry Miao's products are well-known for their high prices. In 2022, a custom hand-painted version of the AM HATSU keyboard from graffiti artist Shek, who has previously worked with Balenciaga, was announced as part of the CYBERVERSE Bundle. This bundle was consecutively auctioned off to a mystery buyer on Tmall's auction platform, going for 14,038 USD.
It should be noted that Angry Miao's founder Li Nan has stressed multiple times that custom keyboards are only a tool to verify the feasibility of co-creation inside the tech community. Ever since the company's establishment, it has heavily invested in the research and development of TWS earbuds. At present, Angry Miao's very first wireless earbuds, named CYBERBLADE, are nearing their release.
"We are going to compete for market share at the high-end of the TWS market." said Li Nan, CEO of Angry Miao. "Both our brand and product are ready after several years of hard work. We are really thankful for all the support we have received and the opportunity to join this huge industry. A new competitor for high-end brands is here." Li Nan concluded.
George He, Senior Vice President of Lenovo Group and President of Lenovo Capital and Incubator Group, said "While Lenovo Capital and Incubator Group invests in hardcore technologies, we are also looking for "new species" that deeply integrate technology with industry. Angry Miao is a new player in the competition of smart consumer technology. Through community-driven innovation, it not only brings trendy tech products to consumers but also aims to establishing a deep emotional connection with its users. As part of the next step, Angry Miao will expand the mass consumer market on the basis of community. Lenovo Capital and Incubator Group will utilize Lenovo Group's rich technical resources, strong supply chain system, and vast sales channels to empower Angry Miao in helping it rapidly develop the domestic market."
Dennis Song, Vice President of Lenovo Group and Senior Partner of Lenovo Capital and Incubator Group added "After the establishment of Angry Miao, product verification was quickly completed through the community co-creation model, which opened up brand awareness of the keyboard product category. We are convinced of the ability and the experience of its team and expect Angry Miao to bring the ultimate intelligent consumption experience to a wider range of consumers in the TWS earbuds market. Lenovo Group has been deeply engaged in intelligent manufacturing for a long time. Its hardware products include notebooks, gaming laptops, projectors, tablet computers, and other hot-selling products in various subcategories. With its own industrial base at its core, Lenovo will work together with Angry Miao to further grow its industrial cluster."