Onyx BOOX Raises Tens of Millions of USD in Series B Funding

May 27 20:18 2024

Onyx BOOX, a leading innovator offering ePaper products, has raised hundreds of millions of Chinese yuan, equivalent to tens of millions of US dollars in its latest Series B funding. This round was co-led by prominent investors including Lenovo Capital & Incubator Group (LCIG), E Ink Holdings Inc., Cedarview Capital Management, and more. The new funding will be invested in strengthening R&D, driving product innovation, and expanding its market share.

Founded in 2008, Onyx BOOX has been at the forefront of building advanced E Ink devices, developing a diverse range of eye-friendly digital reading and writing solutions that cater to various sectors such as leisure reading, education, and professional work for productivity. The BOOX products are renowned globally for their cutting-edge technology, advanced features, and superior display quality, which transforms the way users engage with digital content on E Ink screens.

Since its first product release in 2009, BOOX products are now available in over 60 countries and have gained millions of satisfied users worldwide. The 2023 launch of the Note Air3 C, a versatile color ePaper notepad for both professionals and students, exemplifies BOOX’s dedication to providing high-quality reading and writing experiences. Boasting a large color ePaper display, the exclusive BOOX Super Refresh (BSR) technology, and an open Android system, the Note Air3 C elevates the color E Ink experience to a new level. It has garnered widespread acclaim from users, tech reviewers, and media alike, and was awarded the Best Seller of E Ink Color Products of 2023 by E Ink Corporation.

Mr. Wang, Managing Partner of Cedarview Capital Management, expressed his optimism about the burgeoning market and the pivotal role of Onyx BOOX within it. “Onyx BOOX boasts rapid product iteration capabilities, a comprehensive global channel network, and sustained R&D investment. The surging popularity of the BOOX color ePaper products over the past year signifies a strong market demand for innovative high-performance E Ink devices.”

“E Ink products are emerging with diverse application scenarios, increasing demand for color ePaper displays, and the integration of AI features. Our investment underscores our confidence in Onyx BOOX’s potential to reshape the ePaper industry and drive significant advancements. We are excited to support Onyx BOOX by leveraging Lenovo’s advantages in supply chains, brand, and sales channels to expand their business under the innovative CVC 2.0 model of LCIG,” said George He, President of LCIG, and Senior Vice President at Lenovo Group Limited.

Kim Dan, founder and CEO of Onyx BOOX, expressed gratitude for the support received: “We are thrilled to be backed by such a strong group of investors. Their invaluable resources and experience will be instrumental as we scale our technology development and market reach.” She continued, “We are committed to providing more innovative, high-quality, and high-performance ePaper devices for global users to make a difference in life. This commitment aligns with our mission to promote the ePaper industry’s development and set new benchmarks for quality and innovation.”

About Onyx BOOX

BOOX is a global leading E Ink electronic brand of Onyx that specializes in E Ink tablets and monitors. It offers 6inch to 13.3inch E Ink products to assist aspiring, persistent, and innovative users in becoming more productive in work and study without straining their eyes. With cutting-edge hardware and advanced software, BOOX is the world’s only E Ink electronic brand that combines E Ink with Android and provides maximum flexibility. More product information can be found at shop.boox.com.

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