23 February 2017
Buying from China: an interest and, often, a necessity especially for the 400,000 SMEs that populate the Italian economic fabric. To meet their needs, Yakkyo was born, the startup that defines itself as the Amazon for businesses dedicated to SMEs that want to buy in China. After an acceleration process at Luiss Enlabs, Yakkyo is looking for 100,000 euros on Mamacrowd.
In the first six months of activity Yakkyo reached a turnover of 400,000 euros and a buy-back rate of 50%; moreover, just before the launch of the offer on Mamacrowd, it closed an offline investment round of 150,000 euros with Venture Capital and Business Angels.
Yakkyo operates through a bot equipped with Image Recognition and artificial intelligence. Those who wish to buy items can send a photo of the product which is immediately recognized, including its technical characteristics. In this way it can be ordered from certified Chinese suppliers. A system that allows the startup to reduce by 95% the human work needed to manage all requests, and at the same time customers can find the product they are looking for in a few seconds. The bot, among other things, also allows to request customized products through a form by attaching a photo of the product and receiving answers within 12 hours.
Thanks to its internally developed technology, and to the team's more than 20 years of experience in the field of trading with China, Yakkyo is able to solve 3 customer problems with its service:
Problems that the team knows well, having worked for international clients such as Telecom Italia, Groupon Europe and AsiaDealGroup. It is also thanks to this experience that Yakkyo has perfected a service that allows the purchase at factory prices even for small quantities, with savings from 25% to 80% compared to Chinese distributors such as Alibaba and AliExpress.
The market Yakkyo enters is that of imports from China to Europe, characterized by a constant growth with a total value, in 2015, of 350 billion Euros between Italy, Belgium, England, Spain, Holland, France and Germany. The potential users of the service are in particular SMEs, which in 2015 in Italy were 400,000, for a market of 9 billion euros.
Thanks to the €100,000 it seeks in equity crowdfunding on Mamacrowd, Yakkyo will be able to invest further in research and development and consolidate the marketing and administration areas.
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