Holatek, the China-based owner of smart projector maker JMGO, has secured RMB600m ($86.5m) in a series D round led by e-commerce group Alibaba, China Money Network reported today.
36Kr Fund, the $144m venture capital fund recently announced by media company and business services provider 36Kr, also took part, as did Junsan Capital, Sunz Fund, Stone Capital, GF Xinde Investment, Beijing DZ Capital and unnamed additional backers.
Founded in 2011, JMGO produces home entertainment projectors and laser television sets that rely on the Android mobile operating system to offer a range of smart features. The series D funding will go towards an expanded content and channel offering for laser TVs.
Alibaba will collaborate with JMGO on the development of artificial intelligence technology as part of the corporate’s wider strategy to strengthen its market share in the internet-of-things and cloud computing sectors.
Holatek raised $86.5m in a series C round co-led by Golden Brick Capital and CICC Qianhai Capital in 2016, having received $28.8m in a series B backed by investors including Green Pine Capital Partners and Skychee Ventures the year before.
IDG Capital and StarVC had previously supplied $8.6m in series A capital for the company in 2014.
