Tuya Smart raises $200 million Series C fund

27th July 2018 | By Mouseworld Now Correspondent |

New Delhi, India, July 27, 2018: Leading AI+IOT platform Tuya Smart has announced the completion of nearly $200 million in Series C round of funding from a consortium of investors. The round was led by Australia’s Sovereign Wealth Fund Future Fund and included NEA, CICC Silicon Valley Fund, China Broadband Capital, Quadrille Capital, C.M.Capital and other financial institutions.

On the fund raise, Jerry WANG, Founder and CEO ,Tuya Smart said, “Tuya will use the new fund to develop technological innovations in AI+IoT, strengthen Smart Home, Smart Business, Smart City and create new IoT’s consumer related scenarios. The initiative would help more than 100,000 enterprises that would make their services and products smarter across the globe.”

Since Series B funding in 2017, the company has provided smart products to more than 100 countries and regions and smart services to more than 200 countries and regions including China, the United States, Europe, the Middle East and ASEAN countries. Tuya provides intelligence solutions for nearly 11,000 smart products, serving 10 million consumers. It receives over 20 billion device requests and over 10 million AI interactions every day and the accumulated data has reached 1PB.

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