The smart home device maker has raised $54.5m from investors including Baidu and Libai as it gears up for a China initial public offering.
China-based smart home devices producer Broadlink closed a RMB343m ($54.5m) series D round today featuring internet group Baidu and detergent manufacturer Libai, the South China Morning Post reported.
The round was led by Citic Capital Partners, a subsidiary of alternative asset management firm Citic Capital.
Broadlink produces smart home products such as plugs that can be turned off remotely to save energy, and home automation devices that automatically adjust lighting and air-conditioning.
The company has also developed a cloud computing…
