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2014-12-30

Xiaomi raises $1.1 billion in the latest round of funding

Institutional investors are giving Xiaomi a valuation of over US$45 billion -350 per cent higher than just over a year ago.

Chinese smartphone manufacturer Xiaomi, has completed the latest funding campaign of US$1.1 billion and now Xiaomi is valued at US$45 billion in total. The investment was made by All-Stars Investment, the Russian firm DST Global, Singapore sovereign-wealth fund GIC, Hopu Fund and Yunfeng Capital.

Bin Lin, Co-Founder and President, Xiaomi said, “We just completed the latest round of funding last week, raising US$1.1 billion at valuation of US$45 billion. Investors include All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others. This is an affirmation of Xiaomi's stellar results in four years, and heralds a new phase for the company.”

He further added, “We will strive to continue bringing innovation to everyone, with a goal of producing high-quality, high-performance devices with great user experience. In January 2015, we will be unveiling our next flagship device. Big thanks to all Mi fans, business partners and investors for your strong support.”

Xiaomi has been grabbing attention with an impressive line-up of affordable smartphones. Even one of its more recent releases, the Mi4, is a flagship contender with potent and current hardware, and exceptional build quality, all for under US$400.

By Monday’s expected conclusion of funding, Xiaomi would have taken in over US$1 billion, and institutional investors are giving the company a valuation of over US$45 billion -350 per cent higher than just over a year ago.

Meanwhile, Lei Jun, CEO, Xiaomi said, “Xiaomi is ready to introduce Next Flagship device in Jan 2015 to Mi fans, who have been supporting Xiaomi all the way. We want the company to be the World’s No.1 manufacturer within 10 years.”

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