China-based internet-of-things (IoT) technology producer RT-Thread has raised almost RMB100m ($14.2m) in series B funding from investors including Legend Capital, the venture capital firm established by conglomerate Legend Holdings.
VC firm GGV Capital also participated in the round, which reportedly followed an undisclosed amount of series A funding supplied by Legend Capital in July 2018.
Founded in 2006, RT-Thread has created an operating system for IoT products, allowing manufacturers of connected devices and systems to deploy their products more quickly and efficiently.
The company concentrates on high scalabilty, straightforward usability and ultra low-power consumption. It claims its operating system has so far been installed in some 200 million units.
The series B proceeds will support the expansion of RT-Thread’s research and development team, as it looks to increase the size of its product range and build a wider ecosystem around its offering.
