Xiaomi, a China-based smart phone manufacturer backed by Qualcomm and IDG Ventures, has raised $216m in its series C round at a $4bn valuation. Investors in the C round were undisclosed.
However, in December, Xiaomi raised $90m in its B round from chip maker Qualcomm and IDG Capital, the local corporate venturing unit of US-based publisher International Data Group.
The corporations were joined by the China-based division of Singapore government-backed investment firm Temasek, private investment group Morningside Ventures, venture capital firm Qiming Ventures and Shunwei, which acts as Xiaomi chief executive Lei Jun’s own investment vehicle.
The funding follows an earlier round in late 2010, reported as up to $41m from Morningside, IDG and Qiming.