LifeSmart, an Internet of Things (IoT) and smart home solution provider, announced the closure of a 60 million RMB ($9.4 million USD) Series A funding from Haier SAIF, an IoT investment joint venture of Haier and SAIF Partners, and world’s leading electronics contract manufacturing company Foxconn. The company received 10 million RMB in angel investment last year.
The new funding is earmarked for R&D, recruitment, online marketing and branding, as well as stepping up global expansion, said Stephen Meng, co-founder of the company.
The Hangzhou-based startup launched a slew of smart home automation solutions and devices last year when the IoT trend was in full swing across the global tech circle. Its products include cameras, motion sensors, LED light bulbs, magic light strips and open/close sensors.
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