SAIF joins Series B as Ayla eyes China expansion
SAIF Partners has participated in a $14.5 million Series B round of funding for Ayla Networks, an internet of things (IoT) platform that wants to expand its cloud-based services into China.
Cisco, International Finance Corporation (IFC), Linear Venture and SJF Ventures also participated alongside existing backers Crosslink Capital and Voyager Capital. It takes the total capital raised by Ayla to $20 million.
The California-based company unveiled its technology and business in June of last year and has since established partnerships with microchip and system suppliers operating in the IoT space, including Broadcom, Murata Americas, NXP, STMicroelectronics and United Scientific Industrial. It is also working with manufacturers on solutions for fire and safety monitoring, thermostats, water treatment and door locks.
The objective is to enable customers to leverage consumer data - for example, information on water use in the home - and create new products that operate via an IoT platform, often with minimal modifications to existing product lines. Ayla's technology includes built-in analytics and a virtual device management system that allows data to be collected and products to be operated in real time.
"Ayla has proven itself as a leader in the IoT market, winning some of the largest manufacturers with its innovative platform," said Ben Ng, general partner at SAIF, in a statement. "The company has also established the right partnerships in China and adapted its platform to suit the Chinese market and help manufacturers create great consumer experiences."
Ayla made its first inroad into China last year when web portal Sina adopted the company's cloud platform for consumer devices.
Founded in 2001, SAIF currently has more than $3.5 billion in capital and has made over 100 investments since inception. Its primarily focuses on China, making investments in consumer products and services, technology, media and telecom, financial services healthcare, travel and tourism, and manufacturing.
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