US-based mobile operating system developer KaiOS Technologies has secured $50m in a series B round that included internet technology provider Google.
The round was led by Cathay Innovation, the venture capital fund backed by private equity firm Cathay Capital, and also featured TCL Holdings.
KaiOS has developed a web-based operating system for smartphones and internet-of-things devices. The platform, which has been shipped to more than 100 million devices, uses HTML5 and other open web technologies to utilise less memory compared to traditional devices.
Proceeds from the round will be used to expand into new markets, expand the company’s developer community and fund research and development in order to expand its product portfolio.
KaiOS CEO Sebastien Codeville said: “Our mission is to open up new possibilities for individuals, organisations, and society by bringing mobile connectivity to the billions of people without internet in emerging markets, as well as providing those in established markets with an alternative to smartphones.”
Google provided $22m in series A funding for KaiOS in July 2018 as part of a collaboration agreement. The companies jointly developed versions of Google Search, Assistant, Maps and YouTube for use on KaiOS following the deal.
The collaboration came four months after Reliance Retail, the retail services subsidiary of diversified conglomerate Reliance Industries, invested approximately $7m in KaiOs in return for a 16% stake.