China-based connected home device manufacturer Orvibo has closed a RMB 78m ($12.6m) series A+ round featuring conglomerate Legend Holdings and fabless semiconductor producer Mediatek, China Money Network reported today.
Legend, which invested through its Legend Star subsidiary, and Mediatek were joined by Tiger Cub Equity Investment and other, undisclosed investors.
Orvibo produces a range of internet of things products for domestic use, including control boxes, power conversion and outlet technology, home monitoring systems, and smart appliances and electronics.
The funding will support product development and the forging of new alliances with established home appliance manufacturers.
Orvibo previously raised RMB 10m in series A capital from venture capital firm SAIF Partners in 2012.
– Photo courtesy of Shenzhen Orvibo Electronics Co Ltd.