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Gizwits Lands $200M USD To Ride The IOT Wave In China

Gizwits, a Chinese Internet-of-Things solution provider, announced today that it has secured $200 million USD in Series B financing from Jiuren Capital and Matrix Partners China. The company raised multi-million dollar funding from Matrix Partners China in August last year.


Founded in 2010 as a projected working on Bluetooth-connected toys, Gizwits was officially launched early 2014 as an IoT platform that connects home appliances and consumer electronics products to the internet and smartphones.


It provides IoT developers with data analytics modules as well as IoT management tools such as remote access, notification, and Over the Air (OTA) firmware upgrades. As an open source platform, Gizwits provides developers API access to create new applications to further enhance their connected products.


GizWis now supports some 3 million smart home devices or wearables as of June this year, according to data released by the company.


The new funding will be injected to improve the functions and compatibility of its software development platform to enable more efficient IOT software development and expedites the process of building connected products. In the meanwhile, the company plans to construct an IOT ecosystem which connects the upper and lower links of the industry.


China’s IOT sector has brought about a series of smart hardware platforms backed by internet giants like Alibaba, JD, and Tencent. On the other hand, lots of third-party solution providers are also swarming into the sector.


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