(Yicai Global) Nov. 3 -- Angry Miao, a Chinese fashion-driven computer peripherals manufacturer, has secured CNY50 million (USD7.8 million) in its latest financing round, almost of all of which came from Longzhu Capital, a subsidiary of lifestyle services giant Meituan.
The Zhuhai, southern Guangdong province-based startup, which employs just 50 people, is now worth USD100 million, online tech news outlet 36Kr reported today.
The proceeds will be used to develop the True Wireless Stereo, a new headset scheduled to launch next month that will help the company enter the mass market, founder Li Nan said. At present, Angry Miao’s main product is the Cyberboard keyboard series that is mainly used by professionals.
Angry Miao has earned more than CNY20 million (USD3 million) this year so far, breaking even, said Li, who used to be senior vice-president of smartphone maker Meizu Technology. The firm may widen its product range to include virtual reality devices, he added.
Longzhu Capital was an angel investor, helping to get the company on its feet, but the exact funding amount is not known.
Editor: Kim Taylor