- General
- July 24, 2018
- 3 minutes read
IoT startup Tuya gets $200 million Series C investment from Australian sovereign wealth fund and others
image credit : Tura Chinese Internet of Things solution startup Tuya has now raised $200 million in funding from the Australian…
image credit : Tura
Chinese Internet of Things solution startup Tuya has now raised $200 million in funding from the Australian Government Future Fund and other investors including New Enterprise Associates, CICC, China Broadband Capital and others.
This $200 million figure places this round as one of the largest in the IoT space with Tuya which was started 4 years ago by former employees of Alibaba’s cloud division gaining very deep and large capital to extend its services and product ecosystem.
Tuya currently offers smart software for power accessories, smart lightning, surveillance, kitchen and household appliances in combination with enviromental health providing users with an inter-connected smart platform where several devices in the home are controlled easily through the use of mobile devices which provides a smart experience for several homes.
Tuya stands as a one-stop IoT service provider for device manufacturers who link its hardware with Tuya’s IoT software in order to bring a smarter feel and get better results.
The company assists manufacturers in building industrial ecosystems and integrating with mainstream digital assistants including Amazon’s Alexa and Google Home which provide its devices with IoT software from Tuya making the device more suitable and smarter to consumers.
This round marks Tuya’s status as one of the most impressive companies in the global IoT space with the Hnagzhou based company already counting the likes of TCL, smart home startup Geeni, refrigerator manufacturer Xingx and also the likes of Microsoft, AWS, Nest and IFTTT as platform partners with all these done in just 4 years from inception.
The IoT space is growing at a very fast rate with several startups and companies adopting and improving on the technology space which also counts other main players with a notable one being C3IoT, The Internet of Things company founded founded by software veteran and Billionaire Thomas Siebel which was last valued at $1.4 Billion from its most previous round of funding which amounted to $100 million in Series F funding this year with one acquisition and $222 million raised by the 9 year old company so far.
