Codoon, a smart wearable maker, announced that it secured 60 million yuan (around $9.76 million) of Series A financing led by Shenzhen Capital Group and followed by CITIC Capital. The company received 22 million yuan from Chinese online gaming company Shanda in 2011 (Correction: An earlier version of this story said the amount is 10 million yuan).
As one of the earliest among domestic peers to explore smart wearable territory, Codoon is dedicated to develop both hardware and software of smart fitness-tracking wearables. Its hardware products includes Baidu-backed Codoon wristband, second generation of the bracelet, step counter, Bluetooth body scale, Codoon Candy, Codoon Smile, etc.
Codoon Workout, the accompanying software for Codoon hardware, can track the activity of users, collect data and give suggestions. It is now available on both website and mobile.
The capital will be injected to develop the health-tracking platform and user community of Codoon, as well as to perfect features of Codoon Workout.
Shen Bo, founder of the company, claimed that Codoon registered more than 10 million users and have shipped tens of thousands pieces of hardware domestically and over 200k units to overseas markets.
image credit: Codoon