Angling tourism startup to raise another 5 million yuan
COLDSKY.CN – Yuyoumicrosoft.com, an angling and tourism service platform by Shanxi Yuyou (陕西渔游天下网络科技有限公司), has taken 2 million yuan in venture capital from Shanxi Guojin Wealth Management ( 陕西省国金财富资产管理) under the Shanxi State-owned Assets Supervision and Administration Commission.
The startup’s six-pronged development strategy includes an e-commerce angling supply platform for brick-and-mortar stores in many cities and tailored recreational fishing as a tourism service. It also provides accommodation and food services, fishing guides and other community interactions. Also in the pipeline is a VR fishing simulator priced at approximately 900 yuan that can generate a use fee of 10 yuan per hour.
The Xi’an-based company’s website promotes a 4-day, 3-night trip to south China’s Sanya city at a cost of 4,998 per angler. People can find more choices on its WeChat mini-program.
The company is now seeking 5 million yuan in funding, a value equal to about 10 percent of its shares, for marketing efforts, first in Xi’an, Chongqing and Henan. The initiative plans a target of 40,000 users and 60 million yuan in revenue this year.
The startup also plans to seek international cooperation on angling gear and travel routes, such as trips to Japan and New Zealand, although the COVID-19 pandemic makes this plan less plausible this year.
Calling himself a big fan of angling for more than 10 years, founder Yan Shilei told COLDSKY.CN that the company will make the fishing experience as easy as possible. It will kick off an angling contest in Xi’an this month as part of its brand awareness campaign.
Already in the market is Qingdao-based portal Ziyadiaoyu.com, which claims to be the largest fishing service platform in China. Diaoyur.com, another angling platform, offers video services.
A 2017 report by Guotai Junan Securities said the sportfishing industry then had a market value of 103.9 billion yuan, though it remained one of the most undervalued sports fields. Data from the China Angling Association in 2015 estimated that China had 120 million “angling fans”, those who fish at least four times a year. Another sports consumption report in 2016 said spending on sportfishing grew 75 percent year-on -year, the fastest among all sports programs. China also provides 80 percent of angling gear and accessories to the world market, but the county has few well-known brands.
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