Xiaomi-backed mobile terminal supplier Longcheer nets $100m in Series B

Xiaomi-backed mobile terminal supplier Longcheer nets $100m in Series B

Xiaomi Mi 8 Lite. Source: Alejandro Morgado/Unsplash

Chinese mobile intelligent terminal solutions provider Shanghai Longcheer Technology has raked in $100 million in a Series B round of financing after the firm’s failed listing attempt three years earlier.

The deal was co-led by Chinese government-backed investment firm Shenzhen Capital Group, and Shenzhen Qianhai Wanrong Hongtu Investment Fund, a 4-billion-yuan dual-currency fund that specialises in venture capital (VC) investments in China.

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