Peel, the US-based developer of a television remote control app, has received a $50m strategic investment from China-based e-commerce company Alibaba, Reuters reported on Thursday.
The series D investment was made in late Spring, but Peel waitied until after Alibaba’s high profile initial public offering was completed to announce the deal.
Peel’s app allows users to sync their phones to satellite receivers, enabling smartphones to control a television in place of a remote.
The company claims to have more than 90 million users due to partnerships with mobile manufacturers including HTC, Samsung and China’s ZTE.
The new capital will be used to expand Peel’s products and services. Peel has now raised $95m since being founded in 2009, including $20m in April 2013 from e-commerce company Alibaba and Translink Capital.
In 2011 Peel secured $16.7m in a series B round backed by Lightspeed Venture Partners, Redpoint Ventures and private investors.
– Image courtesy of Peel