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NLVC, Foxconn Lead RMB 140 Mln Investment in Smart Lock Maker Youdian

iFeng Tech, 5/29/18

Shenzhen-based Youdian Technology, which makes smart locks for home appliance and Internet of Things products, has announced the completion of RMB 140 mln in Series A funding, led by Northern Light Venture Capital (NLVC), with participation by Foxconn and other investors. Following this round of funding, Youdian's post-money valuation will exceed RMB 700 mln.

In April 2018, Beijing-based mobile OS developer Chuizi Technology held a product release event where the company's founder and CEO Luo Yonghao also announced the release of three new Youdian smart lock products. Following this Series A funding, Youdian founder Jeff Liu said the company plans to launch a new product series focused on water filters and toilet covers.

Youdian was founded in 2017.

Editor's Note: For more information on this topic, please see Handset Maker Chuizi, Udian Jointly Launch RMB 2,700 Smart Lock, MD 4/09/18 issue.

Keywords: smart appliance hardware funding valuation Foxconn Series A Northern Light Venture Capital Luo Yonghao Youdian Technology VC home appliances Jeff Liu water purifier


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