Tink Labs, the China-based hospitality device provider that counts contract manufacturer Foxconn and smartphone producer TCL as investors, is set to raise up to $300m, TechCrunch reported yesterday.
The company has reached the final stages of discussions for a round that would value it at a minimum of $1.5bn post-money, two sources with knowledge of the talks told TechCrunch. The investors were not revealed but the sources said Tink has approached travel agencies and hotel owners.
Tink’s connected Handy smartphones allow hotel guests to get into their rooms, operate automated in-room devices and access hotel services as well as local travel tips in addition to making calls or sending messages. It also helps the hotels themselves manage services more efficiently.
The company last disclosed funding in September 2016 when it secured $125m from Foxconn subsidiary FIH Mobile, investment firm Sinovation Ventures and private investor Cai Wensheng.
A source told TechCrunch that Tink raised an undisclosed sum in 2017 at a valuation of more than $1bn, but that round was never confirmed by the company. TCL had provided an undisclosed amount of funding in 2014 before FIH Mobile invested $13m the following year.
In addition to direct investment, telecommunications and internet group SoftBank invested an undisclosed sum in an offshoot called Handy Japan in July this year.
Image courtesy of Tink Labs Limited.
