Unleashing Joy
Eddie Li launched Injoya to create high-quality pet toys that strengthen the bond between owners and their pets. The goal was to create innovative toys with value that would help pet owners meaningfully engage with their pets, while creating fun and stimulating playtime experiences.
An issue that many dogs who live indoors face is boredom. Since dogs rely on their sense of smell so much more than humans, they can be seriously understimulated when not getting to use it enough. Injoya’s snuffle mats are designed with many hidden pockets for treats to be hidden in. This turns meals and treat-giving into a fun game that allows dogs to forage and engage their sense of smell.
My experience with 8fig has been very positive, I highly recommend them to other D2C businesses.
How It All Started
Eddie established Injoya with personal savings and a small business loan, as well as a crowdfunding campaign. These funds allowed him to invest in product development, purchase manufacturing equipment, and set up a production facility.
Challenges emerged right away: sourcing durable and pet-friendly material, establishing an efficient manufacturing process, as well as setting up a robust distribution network. Eddie had to budget himself carefully as manufacturing, inventory, and marketing expenses added up quickly.
Injoya’s pet toys proved to be popular with sales surging. It quickly became clear to Eddie that he had to seek external funding to meet this rising demand and adequately scale his operations. He understood that in order to build a strong foundation he had to enhance his production capacity, expand his marketing efforts, and enter new markets. All of these required additional capital.
8fig`s funding terms and flexibility provided the resources we needed to propel our growth while maintaining our brand`s integrity
8fig Funding
Why Did Eddie Choose 8fig?
“After careful evaluation, we chose 8fig as our funding partner due to their specialization in supporting eCommerce businesses and their understanding of the pet industry,” says Eddie. In his view, 8fig’s “expertise, reputation, and track record of successfully partnering with similar companies aligned well with our goals.”
8fig’s funding helped Eddie invest in advanced manufacturing equipment and technology, allowing him to scale his production capabilities and meet the increasing demand for Injoya’s pet toys. This capital supported Injoya’s marketing initiatives as well, helping raise brand awareness, reach a broader customer base, and expand into new sales channels. In Eddie’s experience, “the partnership with 8fig provided us with valuable strategic guidance and mentorship, helping us make informed business decisions.”
Funding from 8fig helped Injoya build the infrastructure and supply chain to cater and ship to audiences across the globe. After starting in the US, Injoya’s products now ship internationally, which has fostered a global community of customers and fans.
Eddie’s 8fig Experience
8fig’s funding… enabled us to invest in advanced manufacturing equipment and technology, allowing us to scale our production capabilities and meet the increasing demand for our pet toys.
“When I first heard about 8fig, I had some initial skepticism,” says Eddie. However, he now believes that 8fig “have proven to be exactly who they claimed to be. One aspect that stood out to me is their exceptional customer service.” In his experience, “they truly feel more like a partner than a traditional financial institution.”
After applying for funding, Injoya got approved after one business day, which left Eddie pleasantly surprised. He found that “the speed and efficiency with which they handled the process were impressive.”
Eddie concludes that other D2C (direct-to-consumer) companies “may not need to seek any other capital aside from what 8fig offers. They understand the unique needs of online businesses and provide tailored financial solutions to support their growth.”
Eddie’s Top Tips for ECommerce Success
- Prioritize product quality and safety to build trust and credibility.
- Invest in market research to identify and understand your target audience’s preferences and needs.
- Leverage digital marketing channels and social media platforms to build and engage with your audience effectively.
- Seek partnerships with influencers or relevant media outlets to expand your brand’s reach and visibility.
- Foster customer loyalty by providing exceptional customer service and maintaining open communication channels.
- Innovate continuously and introduce new concepts and improvements to keep your product line fresh and exciting.
- Keep up-to-date with industry trends and adapt your product offerings accordingly.
- Focus on building long-term relationships with retailers and distributors to increase your market reach.
- Develop a strong online presence, including a user-friendly website and active social media presence.
- Consider sustainability and eco-friendly practices in your manufacturing processes to align with changing consumer preferences.
- Stay agile and open to feedback, allowing you to improve your products based on customer input.
- Collaborate with other stakeholders in your industry to enhance your brand’s credibility and authority.
