In 2019, Yeelight’s revenue has exceeded 1 billion yuan.
I learned that the smart lighting brand “Yeelight Yilai” has recently completed a CIT investment round jointly invested by CITIC Jinshi and Everbright Holdings and released a Chinese brand The name “Easy” . It is reported that this round of funds will be mainly used for the research and development of new lighting materials and new products, the construction of channels and service networks, and the investment in lighting design schools and training.
Yeelight was established in 2012. It has opened branches in Shenzhen and Beijing. It currently has more than 300 employees, mainly focusing on the research and development, design, production and sales of intelligent lighting fixtures. It has a complete whole house intelligent lighting Product line, product series radiate home improvement lighting, stage lighting, atmosphere lighting and intelligent lighting control. In 2019, Yeelight’s revenue has exceeded 1 billion yuan, and it has begun to expand offline channels, build offline experience stores, and provide whole-house intelligent lighting design and experience services. At present, there are more than 30 stores in the country. There will be more than 300 this year.
From the perspective of business form, the core of Yeelight is the development and application of light experience and smart Aiot products. Its main business can be split into the single product sales of smart lighting equipment and the whole house smart lighting products. Design and implementation services.
In terms of intelligent lighting equipment, its smart products can be compatible with more than a dozen AI voice control platforms such as Microsoft, Amazon, and Apple. For the light experience of lighting equipment, Yeelight Yilai started to develop from lighting basic materials, to product light source control, dimming drive, and further research and development step by step to improve light quality. In terms of quality control, Yeelight CEO Jiang Zhaoning introduced that Yilai tends to use enough materials to ensure the user experience of key functions. “Although the cost is now higher than traditional companies, in the long run, smart The cost will gradually be shared with the increase in shipments. The cost placed on the materials is necessary to ensure user experience and healthy and safe use. “
In addition, Yeelight has mastered many of the original key and unique technologies of smart lighting, such as the “smart lighting is always online” Atom switch, a sentence of smart light distribution network, long-distance Bluetooth self-delay without delay Networking series products, etc., “These technologies make lighting equipment smarter, but also make it easier for ordinary designers and installers to deploy smart lighting products, which can help to achieve the popularity of customized lighting.” Jiang Zhaoning said.
In terms of design services for smart lighting products for the whole house, Yeelight Yilai has formed a smart lighting design team. Online, Yeelight Yilai has developed related smart lighting design software. Designers can quickly design the whole house through the software Lighting, at the same time, the common house type is built into the software. The whole house lighting template is available for consumers to choose and refer to; offline, it will open a high-end home custom lighting experience store, customers can experience on the spot, and propose customized lighting needs . “We are working hard to reduce the price of custom design services to a level that most families can afford. This will also be a focus of our work this year,” Jiang Zhaoning told.
According to the data from Qianzhan and Minsheng Securities Research Institute , 2013-2017 The size of the global smart lighting market is increasing year by year. In 2018, the global smart lighting market size was about 14.878 billion US dollars, and it is predicted that it will reach 24.341 billion US dollars by 2020. Traditional lighting giants such as NVC, Op, Mullinson, Philips, and Panasonic have launched related smart lighting products. Huawei, Xiaomi, Ali and other manufacturers have included smart lighting products in the AIot platform, and startups have In the segmented market, looking for a differentiated development path, the entire smart lighting market has not yet seen a leading giant.
Unlike traditional lighting bulbs, smart lighting is a system solution that combines lighting products, sensors, communication devices, and wireless or wired control system software and hardware. It is more similar to electronic consumer products. How to further expand the scale, reduce costs, and make good use of channel resources to enable smart lighting equipment to enter the mass consumer’s shopping list as soon as possible has become a must for manufacturers to further open the smart lighting market. After years of development, traditional lighting giants have established relatively complete channel resources. Innovative enterprises should obtain a stronger channel voice, and in addition to investing more energy to polish products, relying on the power of giants will become a necessary choice.
In terms of channel construction, in addition to continuing to develop channels such as the Xiaomi ecological chain, online stores, and offline stores, Yeelight is also installing with interior design companies and whole house homes.Planning company and decoration company cooperate to promote customized intelligent lighting products. At the same time, the company also cooperated with Google China, Japan’s Softbank, South Korea’s Naver, Russia’s Yandex, South Korea’s Samsung and other giants to explore the international market.
It is reported that Yeelight Yilai completed the C round of financing in 2018, led by Kaihui Fund, Blueprint Capital, Shunwei Fund, and GIC Fund.
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