Tuya Smart receives $200mn series C round through investors

Tuya Smart, the Chinese Internet of Things (IoT) solution provider, has received a $200mn series C round from a number of investors, China Money Network reports.

The investors included the Australia-based Future Fund with NEA, China Broadband Capital and CICC Global Bridge Capital also participating in the round.

"We are confident at Tuya Smart because only as little as 5% of home appliances are smart, which means smart home appliances market has huge potential,” said China Broadband Capital.

“Also, Tuya Smart has a matured business model and ability to act fast, which is rare among AI start-ups."

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Originally created in 2014 by ex-Ali Cloud workers, the solution provider focuses on making products smarter through the use of the global IoT platform and voice AI interaction.

The software provides app management and data analysis service, in addition to offering an AI IoT solution that covers a wide range of different areas, including hardware access, cloud services and App software development.

Tuya Smart assists over 10,000 clients and its products are available in over 200 countries, including Asia, US, Europe and the Middle East.