(Yicai Global) Feb. 6 -- Hangzhou BroadLink Electronic Technology Co., a smart home solutions provider, announced the completion of its Series-D financing of CNY343 million (USD55 million). Proceeds will go to technological development, and investing in and acquiring system integrators and quality smart home enterprises in the upstream and downstream, as internet media Lieyunwang.com reported.

CITIC Private Equity Funds Management Co. led this round, joined by Baidu Inc. and LIBY Group Co.

By integrating Internet of Things, cloud computing, Big Data and artificial intelligence technologies, BroadLink is transforming itself from the original developer of a single smart product into a specialized third-party IoT platform. It is also contributing to the smart upgrading of many traditional enterprises.

Its service scope encompasses three major fields, to wit the sales of a single smart product (to customer), the intellectualization of traditional appliances/electricians (to business) and smart integrated solution (to industry and commerce).

As one of the most mature consoles committed to Platform as a Service (PaaS) of IoT worldwide, the BroadLink DNA System the company has developed offers rapid and seamless access for smart home products.