IoT Unicorn Terminus Closes USD283 Million C Round Led by China Everbright

Internet of Things unicorn Terminus Technologies has secured CNY2 billion (USD283 million) in its C-round fundraising effort, with financial giant and early-stage investor China Everbright leading the series.

E-commerce titan JD.Com, voice technology specialist Iflytek and real estate developer Wanda Group were among secondary backers, the Beijing-based tech startup said today. The money will mostly go toward recruitment and business development, Chief Executive Ai Yu said in the statement.

Extensive applications of AI and the IoT combined with refined data processing is set to becoming a major trend, said JD.Com’s Chief Strategy Officer Liao Jianwen. JD’s rich technical expertise will help Terminus position itself in the security, government and retail sectors, he added.

Founded in 2015, Terminus provides intelligent IoT solutions for urban communities and buildings nationwide, helping build energy management, electronic security and fire protection systems. It has already signed for 8,400 projects and also dabbles in edge computing and smart terminal development.

China Everbright incubated the firm and it had racked up some CNY1.7 billion in funding before the latest round, with investors including IDG Capital, CITIC and artificial intelligence unicorn SenseTime.

Source: yicaiglobal.com

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