China-based internet-of-things (IoT) technology developer Terminus Technologies received RMB2bn ($283m) yesterday in a series C1 round that included e-commerce firm JD.com and voice recognition technology producer iFlytek.
An unnamed investment affiliate of property-focused conglomerate Wanda Group also participated in the round, which was led by asset manager China Everbright and backed by undisclosed additional investors.
Founded in 2015 and incubated by China Everbright, Terminus is working on artificial intelligence-equipped IoT products for use in areas such as urban management and public safety, targeting both governmental and private business customers.
The series C1 funds will go to the recruitment of highly skilled staff while helping drive the company’s business development.
Terminus raised $173m from investors including image recognition software producer SenseTime in October 2018. The round, subsequently described by China Money Network as a series B1, was co-led by China Everbright and venture capital group IDG Capital.
China Everbright and IDG Capital had already backed a $73m series A round for the company in mid-2017 that included alternative investment manager Citic Private Equity.
