Core Viewpoint - The article highlights the innovative approach of Beijing Shigan Technology Co., Ltd. in transforming traditional musical instruments into smart instruments, making music more accessible to a broader audience through technology [4][9][26]. Company Overview - Company Name: Beijing Shigan Technology Co., Ltd. - Financing Round: Series B - Products/Services: Smart musical instruments/Music password - Founder: Zhang Bohan, born in 1990, with an educational background from Beijing Institute of Technology and a master's degree in data finance from the University of California, San Diego (dropped out to start a business) [4]. Product Innovation - Smart instruments combine electronic technology, software systems, and traditional instruments, allowing real-time interaction with performers [4]. - The company aims to simplify music playing for those with no prior experience, likening traditional instruments to manual cars and smart instruments to automatic ones [4][9]. Market Strategy - The emergence of short videos and live streaming has opened up the market for smart instruments, with a shift from traditional craftsmanship to a consumer electronics production model [5][14]. - The company targets not only professionals and music education markets but also ordinary people interested in music [9][24]. Financing History - The company has undergone several financing rounds, including: - Angel Round: 6 million RMB from Zhenge Fund in May 2016 [12]. - Series A: 12 million RMB from Xiaomi Group and others in February 2017 [12]. - Series B: Amount undisclosed from Wo Nan Network in September 2019 [12]. Production Transformation - The company transitioned from traditional instrument manufacturing to a more efficient consumer electronics production model, significantly reducing production time [14][13]. - This shift allowed the company to handle larger orders and scale production effectively [14]. Sales Performance - The company has sold over 500,000 smart instruments, with annual sales reaching tens of thousands per product [25]. - The "Music Password" product achieved over 27,000 units sold on Douyin alone [25]. Market Trends - The article notes a decline in traditional instrument sales, with pianos' shipment dropping from 356,000 units in 2018 to 128,000 in 2023, a decrease of 64% [26]. - The smart instrument market is expected to grow significantly, with projections estimating a global market size of $25.045 billion by 2030 [27]. Future Outlook - The company plans to launch the "Music Password 2" product, which will integrate various core instruments into a smart band, enhancing portability and user experience [29]. - The founder envisions a future where smart instruments foster deeper connections through music among families and communities [29].