Smartisan Reportedly Raises 70 Million Yuan of Series A Financing at Market Valuation of 470 Million Yuan

Smartisan, developer of Android-based ROM Smartisan OS, booked 70 million yuan ($11.45 million) of Series A funding at a market valuation of 470 million yuan, disclosed founder of the company Luo Yonghao, who is also the founder of Bullogger and a well-known English teacher and author.

Screenshot of Luo’s Microblog

Of the total investment, 40 million yuan comes from Buttonwood Capital and the rest comes from undisclosed sources. Tang Yan, founder of dating app Momo, is the angel investor of Smartisan.

The company attracted the attentions of investors after releasing Smartizan OS to much fanfare in March this year.

Similar to the likes of Xiaomi and Meizu, Smartisan planned to roll out its own smartphone in the first half of next year as well as to complement the OS.