We are excited to announce that we have added three new companies to our existing portfolio of five in the Internet of Things sector.
By 2017 there will be more things connected to the internet than PCs, laptops, and cell phones combined. The new IoT platforms that are emerging will enable the aggregation and analysis of data from a variety of sources and will connect to mobile payments, commerce, and other services in all new ways.
From our cross-border vantage point, we also see how IoT is merging the US and Chinese tech industries. Product design from the US needs the engineering and manufacturing expertise of China and vice versa. The US offers upmarket consumers while China offers mass market scale. Both will be key to winning in the IoT landscape. Winners in IoT will have a global perspective while developing massive user bases.
The three new companies joining our portfolio are:
- 1More: award-winning headphone designer. 1More is part of the XiaomiWorld eco-system and its headphones share the sleek contemporary design characteristics of the Mi smartphones. 1More headphones are best known for their superior sound quality, which is achieved by innovations in transducer and damping balance system. GGV Capital led the $15 million Series B round, and Managing Partner Hans Tung has joined the Board of Directors. Xiaomi is a co-investor in the company.
- Zimi: maker of a portable battery charger. Zimi also is part of the XiaomiWorld ecosystem and has plans to develop other sleek phone accessories. GGV Capital led the $15 million Series B round, and Managing Partner Hans Tung has joined the Board of Directors.
- Petkit: maker of wearable devices for pets that track all aspects of their health and activity. The founders are twin brothers that started their careers as smartphone designers. GGV Capital led the Series A round, and Managing Partner Jenny Lee has joined the Board of Directors.
They are joining the existing IoT companies in the GGV Capital portfolio:
- EHANG: global leading unmanned aerial vehicle (UAV) technology company and developers of the Ghost drone
- HiWiFi: smart wireless network manager that provides automatic connection to WLAN and open hotspots
- Misfit Wearables: maker of the world’s most elegant health and fitness trackers.
- Tile: location-tracking device and app for finding valuable items if they are lost.
- Zepp Labs: sports technology and sensors that provide performance information and swing analysis for golf, baseball and tennis.