China’s Lumi United raises $100m led by Grand Flight Investment

A screenshot of an Aqara Smart Home Solution YouTube advertisement video

Lumi United, a Chinese smart home appliances and internet of things (IoT) solutions provider backed by Xiaomi, has secured $100 million in a Series B2 round of financing led by industry investment fund Grand Flight Investment.

Private equity firm Cathay Capital, Joy Capital, which makes investments in TMT and innovative consumption sectors, and Shenzhen-based boutique investment bank Yunmu Capital all poured money into the new round, according to a statement on Thursday.

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