Wellness brands will soon have a new channel to promote their products in malls, hotel rooms, and individual homes in China, as smart-mirror maker Fiture has attracted a reported US$65 million in investments from Tencent and C Ventures.
It is the biggest Series A investment among wellness companies. Tencent is the biggest investor of this round, follow by C Ventures, the second among all investors. C Ventures was co-founded by Adrian Cheng, CEO of New World Development.
Fiture makes smart mirrors focused on exercise. Equipped with a camera and an embedded screen, the mirrors can display exercise guidance to help those working out to correct their moves. Fiture also provides social-media and product-display functions, giving sports and health brands a way to reach active consumers, who are more often exercising alone following the pandemic.
People may see Fiture mirrors appear in New World Development's subsidiary brands, including K11 and D Park malls, as well as its Rosewood hotels, according to Adrian Cheng. Currently, there are 16 K11 malls across eight Chinese cities and 21 Rosewood hotels around the world.
As part of its investment, Tencent plans to bring more interaction into Fiture's product, allowing users to log in with their Tencent accounts and share exercise and home-gym experiences via social media.
Fiture said it will promote its products via both online and offline channels. Apart from installing the mirrors in malls and hotels, the company is preparing to open a store on Tmall, selling directly to individuals with pricing of RMB 7,000 (about US$1025).