Legend Star Participates In $13M Series A+ Round In Orvibo


Shenzhen-based smart home device maker Orvibo has completed RMB78 million (US$13 million) series A+ round from Legend Star, a Chinese incubator program launched by Legend Holdings, Tiger Cub Equity Investment Fund, Taiwanese fabless IC maker MediaTek Inc., and other unnamed investors, according to Chinese media reports.

The company says it will use the proceeds to further its cooperation with traditional home appliance manufacturers and to improve its products.

Founded in 2012, Orvibo received RMB10 million series A investment from SAIF Partners.

The company has also raised money on crowdfunding platform Kickstarter and Alibaba Group Holding Limited’s crowdfunding unit for specific products.

Orvibo currently produces smart power outlet, smart gas detector, wifi appliances remote control, and other solutions for residential communities and hotels.

 

RELATED NEWS



LEAVE A REPLY