Tile, a US-based manufacturer of bluetooth tracking devices, raised $18m yesterday in an oversubscribed series B round that featured internet company Tencent.
Bessemer Venture Partners led the round, while GGV Capital, Khosla Ventures and accelerator Tandem Capital also supplied capital.
Tile, incubated by Tandem in 2012, produces small bluetooth-enabled devices that can be attached to keyrings or other valuable items. The device can be tracked through a smartphone app and other users can help locate an item if it has been lost in public.
The money will help Tile release devices in different shapes and sizes and to increase its retail footprint. The company will also allow third-party developers to integrate the technology in their own products.
Tile previously closed a $12.5m series A round in June 2015. The round was raised over two tranches, with an initial $9.5m chunk in 2014 led by GGV Capital and the second part provided by Khosla Ventures.
Tencent previously led a $3.5m seed round. Tile also obtained $2.6m in a 2013 crowdfunding campaign.
Remaining backers in Tile include Rothenberg Ventures, AME Cloud Ventures, Slow Ventures and a range of private investors.