5Y News | moody Announces Completion of Series C Funding Round Exceeding RMB 1 Billion
How Did They Become an Industry Champion in Just Two Years?
Weimu (Shanghai) Technology Co., Ltd., parent company of moody — China's top-selling colored contact lens brand online — recently announced the completion of a Series C funding round exceeding RMB 1 billion, co-led by 5Y Capital and KKR, with follow-on investment from moody's existing shareholders. The proceeds will fund product R&D and upgrades, strengthening the company's research team and R&D centers to solidify moody's core competitiveness and leadership in China's colored contact lens industry, while accelerating its international expansion.
Founded in 2019, moody has distinguished itself among tens of thousands of colored contact lens brands through high-quality, meticulously designed, short-cycle disposable products, becoming a leading brand in China's colored contact lens space that combines aesthetic appeal with substance. In 2020 alone, moody's sales surpassed RMB 200 million, with projected transaction volume expected to exceed RMB 800 million this year.
According to sources, moody will continue focusing on supply chain development, R&D design, team building, and brand elevation, carving out core competitive advantages through its distinctive differentiated approach. The company has already invested RMB 300 million in material and production line R&D, with plans to commit over RMB 500 million going forward.
As the market enters a period of explosive growth, supply chain positioning has become critical to brand development. In supply chain construction, moody has progressed from deep OEM line involvement to joint R&D, to gaining the ability to direct supply chain operations, and eventually toward owning its own supply chain system — maintaining rigorous quality control at every stage. Currently, moody has established deep partnerships with Asia's only fully automated production world-class factory, creating genuine technological moats within the industry.
moody dedicated production line: The company has invested RMB 300 million in material and production line R&D, with over RMB 500 million in additional funding planned
The unique nature of colored contact lenses means consumers demand higher standards for product safety, functionality, and comfort. moody has invested heavily in product R&D, dedicating substantial resources to studying materials used in soft contact lenses available on the market, while also establishing a hydrogel materials laboratory in Taiwan to build independent R&D and material iteration capabilities, all in pursuit of more comfortable, safer products. To create more vibrant, distinctive premium products, moody maintains long-term deep collaboration with top-tier lens designer teams for R&D and design, staying attuned to domestic and international trends.
High-quality product R&D and design requires a formidable team. moody's core team includes professionals from renowned international optics companies such as Johnson & Johnson, CooperVision, and Bausch & Lomb, alongside versatile talent from leading consumer goods and internet companies including Procter & Gamble, L'Oréal, Alibaba, and ByteDance. To support its globalization strategy, moody is actively expanding its team. This year, the company launched a management trainee program, attracting numerous young graduates from top Chinese universities (Tsinghua, Peking, Fudan, Jiao Tong) and Ivy League institutions both domestically and abroad.
Beyond this, moody is committed to deepening product education and consumer guidance, cultivating a more professional, scientifically grounded brand image. The company is actively expanding collaboration with top domestic and international ophthalmology experts, leading materials science specialists, and designer teams — partnering with expert groups to establish the moody Contact Lens Comfort Research Institute, and working with Taobao Education, chief physicians from China's top-tier ophthalmology hospitals, and celebrity makeup artists to launch educational courses, aimed at providing young people with professional, reliable guidance for selecting and using colored contact lens products.
moody Disco Glitter Collection
During the 2020 Tmall Global Double 11 period, colored contact lens category transaction volume grew by triple digits year-over-year. According to data from the Tmall Contact Lens Industry Consumer Insights White Paper, colored contact lenses grew 83% year-over-year in the first half of 2021. The colored contact lens market retains significant room for explosive growth.
"Facing the rapid development and evolution of China's colored contact lens industry, moody will remain committed to our original dedication to quality and our spirit of bold innovation — using Chinese technology, aesthetics, and creativity to bring better products to the world," said moody founder Ci Ran, reflecting on the company's development. "The era of 'peak popularity from day one' is nearing its end; the new consumer goods industry will eventually become more stable, mature, and systematized. We've always believed that only comprehensively elevated product strength and brand power will enable moody to maintain its shine in the market's inevitable shakeout."
5Y Capital (formerly Morningside Venture Capital) currently manages approximately RMB 32 billion across USD and RMB dual-currency funds. 5Y Capital seeks out, supports, and inspires founders who dare to stand alone, providing support that ranges from the spiritual to full operational engagement. We believe that if the "crazy" you that others see begins to be believed in, the world will become a different place.
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