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Misfit gets $40 million in funding from smartphone maker Xiaomi, others

Wearables maker Misfit nabbed funding from an unlikely source today. Chinese smartphone manufacturer, Xiaomi, participated in a round of funding for the wearables company that saw Misfit bringing in a total of $40 million dollars in new funding, the Wall Street Journal reported today.

In addition to Xiaomi, the funding round drew participation from a number of top Chinese technology companies and investors. According to the Wall Street Journal:

The new funding was led by return investor GGV Capital and joined by newcomers Shunwei Capital Partners and, China's largest online direct-sales company. Also joining the round were past investors Founders Fund, Khosla Ventures, Horizons Ventures and Norwest Venture Partners.

The new round of funding also stands to benefit Misfit Wearables through partnerships with its investors:

The new partnerships will involve Misfit learning more about distribution and manufacturing from its two new partners, the spokeswoman said.

Source: The Wall Street Journal

  • Xiaomi actually makes enough profit to be giving out that much money? Interesting.
  • You know they're the 3rd largest manufacturer in the world, right? I get that that doesn't necessarily equal profit, but... uh... derp.
  • Yup, it's the Apple of Android you could say Posted via the Android Central App
  • Interesting I wonder what this could mean for xiaomi own wearables(the miband).
  • What does misfit do?
  • Basically another Jawbone / MiBand / etc...
  • It's basically your standard fitness tracker, but with a slight 'fashion' twist. Also, it can be worn in different places instead of just the wrist, so it can track things like cycling (without the need for GPS), and it's waterproof, so it can track swimming.
  • = Xiaomi owns them. Posted via the Android Central App
  • It would be great if it could track speed, max, average like the Addidas Speed Cell so i could use it for tennis.