Youdian Technology, a China-based maker of smart locks for home appliances and internet of things products, has raised RMB140m ($21.8m) in a series A round that featured manufacturer Foxconn.
The round was led by Northern Light Venture Capital (NLVC) and also featured a range of unnamed investors. Youdian has been achieved a post-money valuation of $110m, according to Marbridge Consulting.
The company will use the series A capital to launch a new product series around water filters and toilet covers, according to founder Jeff Liu.