Chengdu-based Ledong Information Technology, operator of health and fitness vertical site Codoon.com, announced today that the company has received RMB 60 mln in Series A funding led by Shenzhen Capital Group, with participation from CITIC Capital. According to company founder Shen Bo, Codoon's registered user base has surpassed 10 mln.
Codoon has shipped tens of thousands of its smart bracelet device domestically, and more than 200,000 overseas. The company will primarily focus on developing its wearable device-related software and services going forward. Codoon has already reached partnerships with Samsung and Chinese telecom equipment and terminal manufacturer Huawei to provide software and back-end services for wearable devices released by the two companies.
Editor's Note: For more background on this topic, please see "Shanda Invests 8-Figure RMB Sum in Fitness SNS" MD 4/07/11 issue.