Sunmi Technology Secures Its Series C+ Financing
Sunmi Technology has secured its Series C+ financing for at least USD 15 Million on Jan 24. Ant Financial, the famous unicorn company founded by Alibaba Group, is the sole investor in this round of funding.
Jan 25, 2019 /EqualOcean/ - According to Phoenix Technology, Sunmi Technology (商米科技) has secured its Series C+ financing for at least USD 15 Million on Jan 24. Ant Financial (蚂蚁金服), the famous unicorn company founded by Alibaba Group, is the sole investor in this round of funding. After this round of financing, Sunmi Technology is valued at USD 443 Million.
Sunmi Technology, previously is well-known as the first enterprise in intelligent field that has received two consecutive rounds of funding from Xiaomi (小米). In 2016, The company officially changed its name from Jihe (极盒) to Sunmi, which shows the company is publicly known as part of the business ecosystem of Xiaomi as all companies in this ecosystem shares the similar name mi (米). The investment from Ant Financial may provide this IoT (Internet of Things) company new opportunities and resources.
Founded in 2013, Sunmi Technology is the manufacture of Android Commercial Hardware that covers the food delivery, cashier, supply chain, restaurants, retails, payment and other commercial events. With the target in “manufacture the most convenient intelligent commercial technology products”, Sunmi Technology provides O2O internet platforms, software developers and traditional businesses with professional intelligent commercial hardware equipment like POS, cashier machine, smart payment device etc.
Sunmi Technology provided its hardware with its three main supporting technologies: SUNMI OS, SUNMI Cloud and SUNMI Platform.
SUNMI OS is edited on the basis of android system, Sunmi cuts off the useless module in business like the browser, map, GooglePlay etc, and leaves more space for commercial application like application market, system upgrade etc. SUNMI Cloud is the base technology supported the IoT of Sunmi.
SUNMI Platform provided the application platform which gather more than 3000 developers and 2000 applications. The applications cover group purchase, food delivery, booking, lining up, payment, cashier, iBeacon marketing, members management, parking etc.
The company is originally focused on food delivery, as it was popular to have onsite payment through new third-party payment method, Sunmi Technology strategically switched to IoT in 2016. Brought the resources in previous food delivery, and the fast and vast supply chain supported with Xiaomi ecosystem, Sunmi Technology soon occupies the market share in Android Commercial Hardware.
The cooperation with Ant Financial also gives more opportunities and chances for Sunmi Technology to further develop its market.