News Focus

Recently, Yoga brand Wake announced to have completed Pre-A Round financing of 15 million yuan, whose investors are Meridian Capital and China Growth Capital.

Alex Wang, partner of Meridian Capital, said: “we are optimistic about the consumption upgrading and healthy life fields where Wake is positioned; I particularly prefer Wake products, the team’s obsession with product details strikes a chord in my heart, it is believed the subsequent product upgrading will bring pleasant surprises to users. Furthermore, founder Winnie started his career as an athlete, and later worked at operation and market posts, he has excellent will power and sense of discipline, it is also very promising at the team level.”

Winnie Xiong, founder of Wake, said: “the successful completion of this round of financing signals capital’s acknowledgement of Wake’s ability, development model and future prospects. This time’s financing will also be used in user accumulation and brand construction, it is believed Wake will become a respectable unicorn enterprise in China’s future Yoga and fitness market.”

From September 16, 2015 till today, within a matter of 10 months, Wake completed Angel Round and Pre-A round financing, its user number jumped from zero to over 1 million registered users. The rapid growth of users is inseparable from the conviction and persistence of the Wake team committed to creating the strongest Yoga brand in Mainland China.

With improvement in urban living standard, people are now attaching increasing importance to self health management, in particular, Yoga has become the most popular fitness approach in the recent two years. In January 2006, the General Administration of Sport of China set up National Yoga Exercise Management Committee, which encouraged Yoga sport at government level, promoted nationwide fitness activity, Yoga will become the next industry to embrace rapid development.

Currently, the domestic Yoga market is still at the beginning of a growth stage, it is expected the next few years will witness an explosive period of the Yoga industry, all varieties of fitness products will develop quickly and occupy their respective niche markets. Through this time’s financing, Wake will access the existing Yoga market with an estimated value of about 120 billion yuan in an efficient, competent and fast-paced manner, and build Wake into the most influential Yoga brand in Mainland China.