US-based Ayla gets $39m round for Asia expansion
Chinese boutique investment bank and asset manager Ants Capital has led a $39 million Series C round for Ayla Networks as the US-based internet-of-things (IoT) company consolidates its Asian footprint.
According to a statement, other participants in the round included Chinese lifestyle products manufacturer 3NOD, Japan's Mitsui and US-Asia cross-border firm Acorn Pacific Ventures.
Previous Chinese support for the company has included a SAIF Partners-led Series B round for $14.5 million in 2014. SAIF also contributed to the latest round alongside fellow existing investors Oriza Ventures, SJF Ventures, Cisco Investments, Linear Venture, Voyager Capital and the World Bank's International Finance Corporation.
"IoT will be the next area where major winners will emerge, and we invested in Ayla because it has unmatched traction inside China and globally with leading manufacturers making IoT products," said Yin Min, managing partner of Ants Capital. "Ayla's strategy and IoT platform is a clear fit with the direction of manufacturers worldwide."
Ayla provides IoT platforms to manufacturing customers across areas including home appliances, residential and commercial ventilation and water systems, and home safety products. The company has established IoT clouds in North America, Europe and China, where it is the only international IoT platform to have been granted a license to serve as an internet content provider.
Further Asian penetration has included the establishment of a presence in Japan earlier this year with the intention of adding a fourth IoT cloud to support the broader region. This followed the opening of a new sales office in Taiwan and an expansion of operations in Shenzhen aimed at better leveraging the city's manufacturing sector.
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