The smart electronics producer, backed by Xiaomi, closed series C funding to accelerate research and development with a focus on 5G technologies.
Shanghai Longcheer Technology, a China-based smart electronics producer backed by consumer electronics manufacturer Xiaomi, raised RMB1bn ($154m) in series C funding on Friday.
The round was co-led by Shanghai MtM Fund, Yunfeng Capital, GP Capital and the state-owned China Internet Investment Fund (CIIF) while Forebright Capital and Huaxu Investment Fund also took part. Huatai United Securities was financial adviser for the funding.
Founded in 2002, Longcheer designs and manufactures smart electronic devices such as smartphones, wearable and smart home products,…
