Business, Investments

Xiaomi’s Fitness Wearable Partner Huami Raises USD 35M in Series B


Xiaomi’s fitness wearable partner, Huami has raised USD 35 million in series B funding led by Banyan Capital, Sequoia Capital, and Morningside Capital. This round valued the company at USD 300 million. Xiaomi itself didn’t put any money into this newest round but had contributed to its series A funding with participation from Xiaomi co-founder Lei Jun via his Shunwei China Internet Fund at the beginning of this year.

Also Read: Xiaomi Ships Over 1M Mi Bands in Three Months

As per a TechinAsia report, Mi band was actually created by Huami. Xiaomi has just sold over 1 million Mi bands in a period of three months. The company has shipped 103,000 in a single day, indicating that the smartphone maker is gaining a fan following for its wearable as well.

See Also: Xiaomi, JD and Others Invest USD 40M in US Based Wearable Startup Misfit

On Wednesday, U.S. based wearable startup, Misfit has secured USD 40 million in series C funding led by Chinese smartphone manufacturer, Xiaomi with participation from e-commerce company Inc, and venture-capital firms GGV Capital & Shunwei.

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