(Yicai Global) Oct. 15 -- Baidu will act as lead investor in NetEase Cloud Music's new financing round, which will allow the tech giant to integrate the streaming platform on its smart devices.

Baidu will bring in the Guangzhou-based firm's content and services on DuerOS,which is installed on more than 100 million smart devices including speakers, refrigerators, washing machines and set-top boxes, following the investment, state-backed news outlet The Paper reported.The Beijing-based company has not confirmed how much it will invest in NetEase Cloud Music.

The streamer will benefit from Baidu's millions of users covering its search platform, short-video app Haokan, as well as smart devices, while Baidu will become a strategic partner and aims to cooperate on content, distribution and copyrights.

NetEase Cloud Music closed CNY750 million (USD108.4 million) in A-round financing in April last year led by Shanghai Media Group and its wholly-owned unit Shanghai Radio & TV Station. Mango Wenchuang Equity Investment Fund Partners and CICC Jiatai Fund also took part in the funding, which brought NetEase Cloud Music's valuation to CNY8 billion (USD1.2 billion).

Competition among China's leading music streamers remains fierce. The sector has witnessed a series of deals including a merger of Tencent's QQ Music with Koowo Music and Kugoo Music last year. The Shenzhen-based tech giant led the industry as of late last year with 100 million monthly active users across its platforms, while NetEase Cloud Music boasted 65 million.