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Chinese IoT firm raises $200m

Jul. 27, 2018 – 

The company, founded by former executives of e-commerce giant Alibaba, aims to provide artificail intelligence for IoT devices using the Alibaba and Amazon cloud services and be agnostic to the wireless and cloud technologies used for smart devices.

The funding, the first to be made public, comes from Australia's sovereign wealth fund Future Fund, NEA, CICC Silicon Valley Fund, China Broadband Capital, Quadrille Capital, C.M.Capital and other financial institutions. 

Jerry Wang, founder and CEO of Tuya Smart (above, centre), said the new funding will help Tuya continue to develop technological innovations in AI+IoT and continue to strengthen Smart Home, Smart Business and Smart City features. 

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