Chinese private equity and venture firm Ants Capital has led a US$39 million series C round in Ayla Networks, a cloud platform-as-a-service (PaaS) provider for the Internet of Things (IoT) sector.
3NOD, an original design manufactuer (ODM) of smart lifestyle products, new investors Mitsui and Acorn Pacific also participated in the round, says a company announcement.
Existing backers of the company including Cisco Investments, Crosslink Capital, International Finance Corp. (IFC), Linear Venture, SAIF Partners, Oriza Ventures, SJF Ventures and Voyager Capital also reinvested.
"The IoT (sector) will be the next area where major winners will emerge, and we invested in Ayla because it has unmatched traction inside China and globally with leadi...
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