<article>Chinese smart wristband maker Huami Technology, a manufacturing partner for <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=xiaomi">Xiaomi Inc</a>, is reportedly seeking a new round of financing on $1 billion valuation.</article>

Chinese smart wristband maker Huami Technology, a manufacturing partner for <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=xiaomi">Xiaomi Inc</a>, is reportedly seeking a new round of financing on $1 billion valuation.
The funding will used to serve its expansion globally including the US market under the Amazfit Brand.
Huami has reportedly sold more than 24 million pieces of the Mi Band fitness tracker, which is second only to Fitbit in global sales volumes of wearable devices with a 14-per-cent market share, the company said.
Huami, headquartered in Beijing and founded in 2014, said it revenues rose to more than $150 million in 2015 and it projected the revenue would grow more than 50 per cent this year due to international sales.
In December 2014, Huami completed $35 million series B financing led by <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Banyan+Capital">Banyan Capital,</a> with participation from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Sequoia+Capital">Sequoia Capital</a>, <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Morningside+Ventures">Morningside Ventures</a> and<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=+Shunwei+Capital+"> Shunwei Capital,</a> a venture firm co-founded by Xiaomis founder Lei Jun, based on a $300 million valuation.
Huami said that it is having initial discussions with potential investors with  a potential valuation of $800 million to $1 billion.
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Chinese smart wristband maker Huami Technology, a manufacturing partner with Xiaomi Inc, is reportedly seeking a new round of financing on $1 billion valuation.

China: Huami Technology in talks to raise new funding on $1b valuation

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China: Huami Technology in talks to raise new funding on $1b valuation

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