Tile, a US-based manufacturer of bluetooth tracking devices, has disclosed $13m in funding, made up of $9.5m in series A funding and $3.5m from a seed round led by internet portal Tencent.
The series A round was led by venture capital firm GGV Capital. Other investors across the two rounds include Tandem Capital, Rothenberg Ventures, AME Cloud Ventures, Slow Ventures and assorted private investors.
Tile creates small bluetooth-powered location devices that can be attached to valuable items. The capital will be used to support the development of its Android app and to scale production of its technology.
Tile co-founder and chief executive Nick Evans said: “We owe our success to our initial backers – they got us to where we are today, and we are thrilled to have GGV Capital and other strategic investors on board to help us elevate Tile to the next level.
“We continue to put Tiles in the hands of thousands of new Tilers every month, and we are excited to be spearheading the intersection of connected devices and the sharing economy as we create the world’s largest lost and found.”
Tile, which was incubated out of mobile accelerator Tandem Capital in 2012, raised $2.6m from a crowdfunding campaign last year.