China Digest: Baofeng TV raises $120m; Boxful gets $18m

Photo: Boxful.

Baofeng TV, an AI-based producer, has raised $120 million from Chinese investors including Suzhou Dongshan Precision Manufacturing. Meanwhile, Hong Kong-based storage company Boxful has raised $18 million from property investors in China, according to China Money Network.

AI powered Baofeng TV raises $120m from Chinese investors

Baofeng TV, a television arm of Baofeng Group Co Ltd,  has raised a $120 million investment from Chinese investors.

The strategic financing is contributed by Suzhou Dongshan Precision Manufacturing Co Ltd, a China-based company involved in research, development, manufacturing and distribution of precision metal and electronic products and Rudong Xinhao.

Baofeng TV has bet on artificial intelligence technology and has developed a remote voice control smart TV set X5 ECHO.

Established two years ago, Baofeng TV is led by Liu Yaoping and the new product allows users’ behavioral data through computing and algorithms.

Boxful gets $18m from property investors

Boxful, a door-to-door storage facility service provider with offices in Hong Kong and Taipei, has raised an $18-million strategic investment from property investment firms.

Companies that contributed to the investment are Shimao Property Holding LimitedShui On Land Limited, and Nan Fung Group.

Launched in 2015, Boxful offers a month to three months tenure of storage services equipped with insurance services.

Similar to U.S. companies, MakeSpace and Clutter aims to expand overseas. Prior to the latest round, they have raised a $1.5-million seed round in 2015.

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