Chinese smart wearable brand Codoon has raised US$30 million in Series B funding from SIG and SBCVC, it told TechNode. The company had just raised RMB60 million of Series A financing in March this year and also received angel investment from Shanda.

In addition, the company said in the press release that its social sports community has amassed more than 20 million users.

Entering the smart wearable sector in 2010, Codoon has released a series of smart devices, including a wristband, a second generatio bracelet, step counter, Bluetooth body scaleCodoon Candy, and Codoon Smile.

codoon

In addition to hardware, Codoon is trying to ride the health and fitness wave in China with multi-platform exercise apps such as Codoon Workout and Codoon Sports. The startup also introduced social elements and big data solutions to the apps to create incentive mechanism. This financing round will be utilised in developing its social networking platform and software.

Codoon is now transforming from a hardware manufacturer to a smart hardware solution and data provider. To facilitate this, the Codoon platform was last year opened to third parties so users can introduce their connections and data from social services or other appcessories. It also released ROM 1.0, a firmware for smart wristbands, in August this year, providing API access to different smart gadget brands. The company is also working on firmware for other smart product categories, said the company’s CEO Shen Bo at a recent event.

Formed by Shen Bo in October 2009, Codoon now has over 40 employees mainly operating from Chengdu and Shenzhen. It is planning to set up a business center in Beijing in the near future.