Tuya Smart announces C round fundraising of nearly $200 million

July 30, 2018 – Tuya Smart has announced that it has just closed almost $200 million in C round funding. The round consists of Australia’s sovereign wealth fund Future Fund, NEA, CICC Silicon Valley Fund, China Broadband Capital, Quadrille Capital, C.M.Capital and other financial institutions. It is an uncommonly large amount of fundraising for the global IoT industry.

 

Despite the downturn in the international capital markets, Tuya Smart has worked against the trend, proving its core competitiveness and industrial leadership.

 
Tuya Smart’s Management Team including Jerry Wang (front centre)

Jerry Wang, founder and CEO of Tuya Smart, said that with the new funding Tuya will continue to develop technological innovations in AI+IoT; continue to strengthen Smart Home, Smart Business and Smart City features; create new IoT consumer-related scenarios; and help more than 100,000 enterprises make their services and products smarter across the globe.

Since its Series B funding in 2017, Tuya Smart’s platform has covered around 200 countries and regions including China, the United States, Europe, the Middle East and ASEAN countries, and its smart products are present in more than 100 countries and regions. Serving tens of thousands of clients across the globe, Tuya has designed smart solutions for almost 11,000 products, reaching tens of millions of consumers. It receives over 20 billion device requests and over 10 million AI interactions every day, and the amount of data accumulated has reached 1PB.

From the PC age to the age of mobile internet, and to the future age of IoT, devices connected to the internet and interaction between different scenarios and experiences powered by AI, will become the general trends, and AI+IoT technology will usher us into the age of IoT, bringing new scenarios and experiences to consumers.

At present, Tuya Smart is making full use of its unique advantage in AI+IoT to reconstruct the interaction between manufacturing brands and consumers, adding value-added services to traditional purchases, such as product upgrades, after-sales and customized service, enabling consumers to experience smarter lives worldwide.

About Tuya Smart

Tuya Smart makes technology solutions for OEMs, turning traditional devices such as lighting sockets into IoT-connected devices for the smart home. Tuya Smart has developed thousands of software and hardware products for companies including Energizer, TCL and Vivitar, and currently serves over 10,000 clients across the globe, reaching millions of consumers with over 20 billion daily device requests and more than 6 million daily AI interactions. Tuya’s cloud service, which has accumulated data upwards of 1PB (petabyte), complies with high-level encryption technology to guarantee its client’s data security.

Founded by former Alibaba executives and headquartered in Hangzhou, China, Tuya Smart now has offices in Shenzhen and the Silicon Valley, and has data centres in Portland (Oregon, US), Frankfurt (Germany) and Hangzhou. Tuya Smart is the first global platform that fully works with Amazon Echo, Google Home and IFTTT.

For more information, visit: https://en.tuya.com

PRESS CONTACTS  OPEN2EUROPE

Neil Atherton
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n.atherton@open2europe.com

Miléna Mahé
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m.mahe@open2europe.com

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Company Name: Tuya Smart
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Website: www.en.tuya.com