Baidu doubles down on smart lock maker

Yunding Technology completed its second fundraising this year with Baidu among the investors as the battle for the Internet-of-Things (IoT) continues to heat up.

Chinese smart lock maker Yunding Technology has completed a Rmb600 million $87 million Series D fundraising from existing investors, its second this year.

Baidu led this round of fundraising, joined by Shunwei Capital, K2VC and Susquehanna International Group SIG, Yunding said on Wednesday.

In July, the smart lock maker completed a Rmb270 million follow-on C round fundraising from seven investors including Baidu, SIG. Prior to this, from 2014 to 2017, it had four disclosed financing rounds.

When it was founded in 2014, Yunding's initial focus was on the rental apartment market, providing smart lock, electricity and water meters...

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