China video communication player Xiaoyu Link gets $18m
Xiaoyu Link, a Chinese video communication services provider, has raised a RMB125 million ($18 million) Series B round of funding jointly led by ZhenFund and Zhen Cheng Fund.
Sinovation Ventures, Lightspeed China Partners and Chengwei Capital also participated in the round.
Operated by Beijing Sailian Technology, Xiaoyu Link was founded in 2014. It produces cloud-based video communication equipment. Its hardware and software solutions are used in distance learning, business meetings and healthcare diagnostics. The company claims to cover 717 cities in 94 countries, with more than 1.3 million corporate users. It has sold 20,000 video display terminals, generating more than RMB100 million in revenues.
Xiaoyu Link secured an Series A round of undisclosed size from Lightspeed and Sinovation in 2014. The new funding will be used for product development.
The parent company also developed A.I. Nemo (known as Xiaoyu Zaijia in Chinese), a family companion robot. A.I. Nemo previously raised more than $30 million across three rounds from Lightspeed, Sinovation, Chengwei Capital, and Taiwan Foxconn Technology Group. A.I. Nemo spun off from the group last year.
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