36Kr Exclusive: "Two Rabbits Buddy Buzzy" Completes Hundred-Million-Level Financing, with Cumulative Sales of Over 300,000 Child Safety Seats.

36Kr has learned that "Two Rabbits Buddy Buzzy" has completed a new round of financing of hundreds of millions of yuan. This round is led by the Hangzhou Government Industrial Fund, and the old shareholder Baojiehui Innovation Fund follows the investment. The funds from this round of financing will be mainly used for product research and development, the construction of an intelligent IoT ecosystem, brand and team investment, and the construction of an intelligent factory.

Two Rabbits Buddy Buzzy is a domestic high-end maternal and infant technology brand established in 2020. At the beginning of their entrepreneurship, they chose to enter the market from children's car seats. At the end of the same year, they launched the first self-developed children's car seat, the "Seeking Knowledge" series. Less than a year after its launch, it topped the list of the best-selling children's car seat on Tmall. Since then, they have successively launched multiple categories such as the Magic Growth Chair and the Hi Stroller, covering more life scenarios of babies' travel and growth.

Image of the three major series of products of Two Rabbits, provided by the interviewee

"The development of our past four years can be divided into three stages: high-end, intelligent, and ecological." Wang Yong, the founder of Two Rabbits, told 36Kr that Two Rabbits has been making intelligent children's car seats since its establishment and does not manufacture traditional car seats.

Two Rabbits is a typical new consumer innovation brand that takes the high-end route. In just four years, it has completed the development from a single category to multiple categories. It is reported that currently, the cumulative sales of Two Rabbits' children's car seats have exceeded 300,000 units, ranking first in the global intelligent children's car seat industry.

This outstanding market performance is directly related to the product innovation spirit of Two Rabbits.

The development of the domestic children's car seat industry can be roughly divided into three stages. 1.0 is the traditional channel production-oriented brand; 2.0 is to upgrade the product appearance design through the e-commerce traffic dividend; 3.0 is to reshape the bottom layer of the product based on innovative technology. Two Rabbits also hopes to be an innovative representative of the intelligent maternal and infant technology brand.

When the brand was just established in January 2020, they invested in building an international standard laboratory by themselves. At that time, their considerations mainly had two aspects. First, as a new brand, safety guarantee is crucial. Second, new brands have the risk of encountering problems in the production process and quality stability. In a word, it is necessary to take precautions.

The newly revised "Law on the Protection of Minors" (2021) also included the use of children's car seats in national legislation for the first time, and many places have implemented mandatory use policies. In addition, mandatory national standards (such as GB27887—2011) also clearly require alignment with international standards to protect the safety of children in motor vehicles.

Combining traditional safety functions with intelligent technology to upgrade the intelligent technology of children's car seats is the breakthrough point of Two Rabbits' products. At the beginning of its birth, they independently developed the ISCA™ intelligent technology, and upgraded and iterated the products based on the four dimensions of intelligence, safety, comfort, and ventilation, to meet the safety and comfort needs of contemporary children.

For example, during the user research process, Two Rabbits found that when novice mothers are driving, if the baby sitting behind them is making noise, they will feel nervous and habitually turn their heads to comfort the children while driving, unconsciously driving the car faster and faster.

After discovering this problem, on the one hand, Two Rabbits added an ambient light reminder based on the ventilation and heating functions. If the baby feels too cold or too hot, the mother can see the feedback prompt of the ambient light through the rearview mirror without having to turn her head frequently. At the same time, it also supports the voice interaction of the children's car seat to improve driving safety.

According to the brand, based on the insights into some unmet needs and pain points in the daily parenting scenarios of the new generation of users, Two Rabbits is currently developing more new products to improve the convenience and experience of parenting for mothers and fathers.

In addition, Two Rabbits also designed the "Forgotten Alarm" function to prevent babies from being left in the car. Although many people thought this function was rather useless and it was unlikely to leave the child in the car when it was first developed, the actual situation is the opposite, and there are still some parents who leave their children in the car.

It is reported that since the launch of the first children's car seat, Two Rabbits has been equipped with the ISCA™ intelligent technology as standard and has continuously upgraded the technology. The hidden side protection system has also been further upgraded to the Thunderbolt Intelligent Side Protection System, and at the same time, the gravity sensing of the children's car seat has been developed to realize automatic opening and closing.

In the past, the common reason why children's car seats were bought but not used frequently was that the restraint of the safety system made children feel uncomfortable and unwilling to sit in them. Therefore, many people chose to hold the children while driving. In addition to the comfort function, Two Rabbits also attempts to introduce AI technology to enable the children's car seat to interact with the baby.

"We will use AI to make user behavior predictable, and we will continue to develop new products to achieve a seamless closed loop of the entire usage scenario and experience." Wang Yong disclosed to 36Kr that it is expected that by the end of this year, Two Rabbits will be able to achieve the interconnection and interaction of multiple products, and by 2028, it will achieve the experience closed loop of the entire product ecosystem.

It is worth mentioning that "Two Rabbits" is derived from the images of two rabbits with different personalities, Rabbit Buddy and Rabbit Buzzy, aiming to become the "right-hand men" in the parenting life of the new generation of users. When talking about the development of the next generation of new products, Wang Yong said that they hope to truly enable young mothers to take care of their children with "talking instead of doing", that is, "be fully themselves and be a part-time mother".

Two Rabbits Seeking Knowledge 2Pro Guanghui Edition, provided by the interviewee

Behind this, young mothers who grew up in the Internet era have a completely new lifestyle in taking care of their children. Currently, the users of Two Rabbits are mostly post-95s to post-00s. They found that this type of young mothers has a rich identity portrait, and their consumption concepts of maternal and infant products are also completely different from the past.

"Some mothers emphasize material abundance and hope to give the best to their babies within the economic range. Some are more willing to pay for the appearance and design of maternal and infant products. Some hope that maternal and infant products can reduce their parenting anxiety and burden, leaving more time for themselves. Some pay more attention to scientific parenting." Wang Yong said that in addition to meeting the functional needs of young mothers for maternal and infant products, Two Rabbits hopes to provide them with emotional value, care about the state and pleasure of mothers during the parenting process, and pursue a journey of free and new life with users.

It is reported that Two Rabbits has formulated a long-term development strategy of "1 + 10 + N", that is, one ecosystem, ten core categories, and an expanding user group. And it will adhere to the positioning of a high-end maternal and infant technology brand, focusing on the development of core categories such as children's car seats, strollers, growth chairs, and cribs.

In addition to product development, Two Rabbits is also continuously enriching the channel network. In January 2022, it began to lay out the national retail channel. In terms of offline expansion, Two Rabbits has entered top maternal and infant chain channels such as Kids King and Yingshi, with as many as 2,500 stores, covering high-end shopping malls in first-tier to third-tier cities in China.

In early 2024, Two Rabbits began to plan to go global. Currently, it has entered the offline channels in countries and regions such as Sweden, Italy, South Korea, and the Middle East. Wang Yong mentioned that Two Rabbits prefers to take root in the offline channels through agents overseas. After completing the overall offline layout, it will then develop the online channels overseas.

In the past two years, another important layout of Two Rabbits is that the brand's super smart factory has been officially completed. Part of the funds from this round of financing will also be used for the construction of the intelligent factory. It is reported that Two Rabbits is planning to build the most standardized, intelligent, and efficient smart factory in China, and it is expected to start construction this year.