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Smart door lock brand lands USD 19 M in Series A financing

Hangzhou-based smart lock company Dessmann confirmed that its lock brand, Xiaodi, received RMB 123 million (USD 19 million) in Series A financing from Xinjiang-based Ronha VC. Ronha VC has previously invested in Meitu, the maker of China’s largest selfie-editing app, and DJI, the Chinese drone maker.

Dessmann was founded in 2009, and launched the Xiaodi smart door lock brand in China in 2016.

The lock is equipped with fingerprint scanning technology along with several other means of entry when unlocking a door. The lock also has a keypad for pin-number entry that employs a touchscreen panel and security features to prevent burglars from identifying your codes. Additionally, you can unlock the door via an app on your smartphone connected to the smart lock.

Xiaodi smart door lock. Photo from 36Kr.

The new lock model also integrates with automated systems and has a well-designed app for added security and protection. For example, when you are away from home you will be notified on your phone if someone is trying to break into your house. You can also access log records that show you who enters and leaves your home in real time. If your family, friends or service providers cannot get in the house at a time when you are away, you can send them “virtual” keys via smartphone.

“This latest round of funding will be used to explore new products, optimize the resources of our supply chain and increase market promotion,” Zhu Zhiling, CEO of the Xiaodi brand, said in a statement.

He also added that Xiaodi is gradually shifting its market strategy to sell products mainly to individual customers instead of companies.

Xiaodi’s crowdfunding price on Taobao.com. Photo from itjuzi.com

The newly released fingerprint lock is priced at RMB 1299 during the period of its crowdfunding campaign on Taobao.com. Once the campaign is terminated in April 12, the price will be modified to RMB 1699. Considering the high price, Xiaodi is surely targeting upper- and middle-class consumers in China.

(Top photo from vhteam.com)

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