Aqara, a China-based producer of smart home devices, has raised $156m in a series C round featuring telecommunications company China Telecom, DealStreetAsia has reported.
The round was filled out by Liantong Zhongjin, a fund launched by telecoms firm China Unicom and ICC Capital, the private equity arm of investment bank China International Capital Corporation, as well as Joy Capital, Shenzhen Capital Group, Greenwoods Asset Management and Zhongyan Capital.
Founded in 2016, Aqara produces appliances such as sensors, cameras and controllers for the home that can be controlled through platforms including Google Assistant, Amazon Alexa and Apple HomeKit.
The company was formed by Lumi United Technology, an internet-of-things and smart home appliance subsidiary of smartphone manufacturer Xiaomi. The capital will be used to advance research and development, build its team and develop its global business.
Aqara last raised money in November 2019, when it secured $100m in a Grand Flight Investment-led series B2 round featuring Joy Capital, Yunmu Capital and Cathay Capital. Its earlier investors include Shunwei Capital and Gaorong Capital, according to DealStreetAsia.
