# Townew

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/townew

- Industry: Hardware
- Headquarters: Shanghai, China
- Website: www.townew.com
- Latest round: Angel (Dec 1, 2017)
- Investors on record: 3

## About

Townew specializes in innovative smart waste management solutions, offering a range of automatic trash cans designed to streamline waste disposal for both households and businesses.Founded in 2014 and headquartered in Shanghai, China, Townew develops smart waste management technologies. The company, founded by Huilong Jiang, has completed a total of 5 deals, with the most recent being a Series A round in January 2021, raising RMB 10 million from Xiamen Intretech Inc. This funding marked a pivotal moment in enhancing its operational capabilities.Townew focuses on the development and production of smart waste management solutions through its innovative line of automatic trash cans. The core product offerings include the Townew T1, T3, T Air, and T Air X, designed to simplify waste disposal with automatic sealing and bag replacement features. These products serve a diverse clientele, encompassing households and businesses that prioritize efficient and hygienic waste disposal solutions. Townew markets its products across various regions, with a strong presence in China and growing interest in international markets, particularly in urban areas.Townew generates revenue primarily from direct-to-consumer sales and partnerships with major e-commerce platforms such as JD.com, Tmall, Xiaomi Youpin, and Pinduoduo. The company employs a model that includes both individual sales and potential subscription services for consumables like replacement bags. By focusing on flagship products like the T1 and T3, Townew aligns its pricing strategies with market expectations for premium smart home appliances. Revenue is accrued when customers purchase these products from the official online store or partnered retail channels, reinforcing its commitment to customer satisfaction.Townew plans to leverage its recent funding from its Series A round, raising RMB 10 million in January 2021, to accelerate product innovation and expand its market reach. The company is currently designing new products slated for release in the coming years, while also targeting expansion into international markets, particularly in Europe and North America, by 2023. The recent funding will support these initiatives, enabling Townew to enhance its product offerings and increase its global footprint.

## Funding rounds

- Angel, Dec 1, 2017 — Haiquan Fund, Yuhe Capital, Shanghai Shihou Network Technology Co., Ltd.
- Seed, Jan 1, 2017 — Haiquan Fund

## Investors

- Haiquan Fund (https://capitalatlas.ai/funds/haiquan-fund) — Seed, Angel
- Yuhe Capital — Angel
- Shanghai Shihou Network Technology Co., Ltd. — Angel