Baidu Ventures Leads Series C Investment in Projector TV Maker XGimi
36kr.com, 11/20/17
Chengdu-based projector TV manufacturer XGimi Technology recently completed Series C funding led by Chinese internet company Baidu's (Nasdaq: BIDU) investment arm Baidu Ventures. The funding, the amount of which was not disclosed, will primarily be used for R&D of screenless televisions and laser screenless televisions, improvements to core technology and application ecosystem development, and further expansion of product features. With Baidu Venture's funding, XGimi and Baidu will partner closely on artificial intelligence technology for the joint development of next generation smart TV.
XGimi, founded in November 2013, primarily produces a "screenless television" (i.e. a projector). XGimi completed RMB 100 mln in Series A funding in August 2014, RMB 300 mln in pre-Series B strategic funding from Chinese new media and TV production company Mango Media in June 2015, and RMB 120 mln in Series B funding in April 2016 from metal products manufacturer and film producer Zhongnan Red Cultural Group (002445.SZ), Shenzhen CDF-Capital, Shanghai Dingfeng Asset Management, and Shenzhen Lishi Investment at a valuation of RMB 1.5 bln.
Keywords: funding projector television valuation Baidu Series C BIDU smart TV XGimi artificial intelligence Baidu Ventures TV set
Sending
