Smart Home Tech Firm Orvibo Bags 1 Billion Yuan in E-Round Financing

Shenzhen-based smart home appliance provider Orvibo announced on Monday its completion of a new round of financing. Tencent, Huaxing Growth Capital, Suofeiya, Fusen Noble-House and the State-owned Assets Supervision and Administration Commission of Pingxiang City all participated, with a total investment of 1 billion yuan ($157 million).

This round, according to Orvibo, will be invested in the R&D of intelligent operating systems and AIoT technology, as well as the construction of its smart home product ecosystem and retail platforms. Prior to this, Orvibo has received several rounds of investment from well-known institutions such as SAIF Partners, MediaTek, Midea Real Estate, Red Star Macalline, Huaxing Growth Capital, Suofeiya, Fusen Noble-House, Shenzhen Topband and Legend Star.

Orvibo has provided smart home products and services for more than 3.5 million home users, and has 1,000 whole-house smart specialty stores across the country. According to statistics reported by All View Cloud from January to September, 2021, Orvibo has the top market share in the intelligent systems of real estate fine decoration.

SEE ALSO: Huawei Launches All-in-One Smart Home Solution, Smart Screen S Series, and Huawei Smart Screen for Cars

In the past few years, Orvibo has launched HomeAI, a whole-house intelligent operating system with independent intellectual property rights, and MixPad, an intelligent voice switch with a screen. It also launched a series of top-selling smart home products, such as its SoPro series of home intelligent lighting.

Orvibo has more than 400 patents and 100 invention patents, and has won many global product design awards, including the iF design gold award in 2017, the highest honor in global industrial design. Moreover, the firm has been listed in the top four building technology category of iF World Design Index.