Lightspot Capital leads a Series B financing round for Yiyi Hygiene Products, raising 143 million yuan to enhance its position in the growing Chinese pet care market.

Target Company Overview

On November 15, Tianjin Yiyi Hygiene Products Co., Ltd. announced the completion of its Series B financing round, raising 143 million yuan ($20.4 million). The funding was led by Lightspot Capital and Bridge Capital, with additional investments from Hongshi Capital and existing shareholder Qiao Bei Capital. Yiyi specializes in the research and development, production, and sales of pet care and adult hygiene products, boasting over 20 years of experience in the pet care industry. The company is dedicated to developing functional products that meet the diverse needs of both pets and their owners across various aspects such as cleaning, home care, travel, grooming, and medical care.

Yiyi has established significant industry advantages in both product research and rapid mass supply. The company is recognized as one of the first in mainland China to independently develop, innovate, and manufacture pet hygiene products, including pet pads, training pants, wet wipes, cleaning bags, and waste pickup bags. With over forty advanced production lines, Yiyi holds a leading position in both capacity and output. Its customer base consists of world-class distributors, and Yiyi has formed stable, long-term partnerships with major multinational retailers such as Walmart, Amazon, Petsmart, and Aeon, enabling their pet care products to be sold in more than 30 countries and regions worldwide.

Industry Overview in China

The pet care industry in China has seen remarkable growth in recent years, driven by rising disposable incomes, changing consumer preferences towards pet ownership, and an increasing focus on pet health and well-being. The market for pet care products, particularly within