Broadlink, a China-based internet-of-things (IoT) platform developer backed by wireless technology manufacturer Qualcomm, has raised RMB70m ($10.5m) in series C funding, China Money Network reported yesterday.
A venture capital fund owned by state-owned holding company China Merchants Group led the round, with participation from VC fund Innovation Works.
Broadlink provides a range of smart home products including a software platform that helps IoT home appliances integrate with existing devices. It will use the funding to strengthen its technology and form additional partnerships with electronics and hardware manufacturers.
The company received funding from Qualcomm in 2013 when it won the China QPrize competition, a startup contest held by the corporation’s strategic investment subsidiary, Qualcomm Ventures. No subsequent funding had been disclosed until the latest round.