Codoon, a China-based producer of smart wearable products, has raised $30m in series B funding from investors including SBCVC, a Chinese venture capital affiliate of telecommunications company SoftBank.
The round, which also included technology and trading firm Susquehanna International Group, followed a $10m series A investment in Codoon by Shenzhen Capital Group and Citic Capital in March this year.
Codoon has brought out a range of wearable products, including a fitness tracking app said to be cloned from US-based Jawbone’s Up bracelet. The funding will be used to enhance the fitness-based social network Codoon has created for its device users.