US-headquartered smart home device developer Rokid has raised more than $50m in a series B round featuring IDG Capital Partners, a venture capital affiliate of media firm International Data Group.
The round, which valued Rokid at $450m post-money, was led by investment firm Advantech Capital Partners and included VC firm Walden International.
Founded in China in 2014, Rokid is developing an artificial intelligence and deep learning technology-equipped home device that can be made to answer queries or perform tasks through voice or visual commands, similarly to mobile voice-activated assistants such as Siri or Cortana.
The device, which Rokid began selling in April 2016, is scheduled for a US release early next year. Rokid will invest the series B funding in product development and also plans to expand its research, design, user experience and hardware/software development teams.
IDG Capital contributed to an angel round of undisclosed size for Rokid in 2014 before taking part in a Walden-led series A round in 2015 sized at $20m, according to China Money Network.
Misa Zhu, founder and chief executive of Rokid, said: “Rokid is fortunate to have the backing of a premier group of strategic investors.
“The financing is a strong vote of confidence in Rokid’s technology and management and will continue to propel the company forward as we prepare for our product introduction in the US during Q1 of 2017.”
– Image courtesy of Rokid, Inc.