Aqara said this round of funding will focus on product development and innovation and the construction and landing of global business channels as well as brand building and the introduction of talent.
The IoT industry unicorn, Aqara, has announced the completion of a new round of CNY 1 billion financing, which is also one of the largest funding in the IoT sector this year. The investors in this round are Shenzhen Venture Capital, Pleasant Capital, China Telecom, Jinglin Assets, Crowdsource Capital and Unicom CICC, where Yunmu Capital continues to serve as the sole financial advisor for this round.
With a team of more than 1000 people, Aqara boasts industry-leading research and development capabilities, including but not limited to artificial intelligence, big data, application R&D, cloud platform R&D – amongst which the proportion of R&D personnel accounts for over 50% of all. Aqara's founder, You Yanyun, is a scientist in the field of automation and control technology, who participated the company's various important patents with a total of 224 patents.
Aqara is one of the first companies in China to have the ability to provide all-house intelligent one-stop wireless solutions on a large scale, and is one of the few enterprises in China with 2B IoT software and hardware integration solutions and 2C all-house intelligent custom solutions service capabilities. Its products and services have been widely used in home, apartments, hotels, real estate, office, healthcare and other industries.
Up to now, Aqara has more than 30 categories and over 500 self-researched SKU, with more than 800 patent applications. At the same time, the product has been connected to Xiaomi, Apple Home Kit, Google Assistant, Amazon Alexa and other platforms, achieving the connection to many of the world's intelligent products.
Since the beginning of the exploration of offline all-house smart customization services, there are more than 600 Aqara Home in China, covering over 490 cities and regions. The number of offline service teams exceeds 10,000. In fact, Aqara has become China's top provider of digital lifestyle and smart industry solutions, and the brand has also been a leader in the smart home track.