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.
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.
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 JD.com Inc, and venture-capital firms GGV Capital & Shunwei.Category Business Investments