China-based point-of-sale technology developer Sunmi Technology has received several hundreds of millions of renminbi (RMB100m = $14.7m) in series C-plus funding from financial services provider Ant Financial, China Money Network reported today.
Founded in 2014, Sunmi is developing various mobile, desktop and smart payment hardware devices that can be used to accept payment and which can be managed by the company’s Android-based systems.
The systems can be connected to functions such as such as food delivery, supply chain logistics and tax management, and also include NFC (near field communication), QR scanning and bill printing capabilities.
The round adds to a nine-figure renminbi amount Sunmi collected from unnamed investors in a September 2017 series C round that came two years after it raised $15m in a series B-plus round backed by e-commerce company Weidian.
Consumer electronics manufacturer Xiaomi, local services platform Meituan-Dianping and venture capital firm Shenzhen Capital Group had previously supplied $30m in series B funding earlier in 2015, after Xiaomi participated in the company’s $11.8m series A round the previous year.