(Yicai Global) Feb.20 -- Huami, a maker of smart band wearables backed by Chinese handset giant Xiaomi, has led A-round funding of EUR7 million (USD7.9 million) in French semiconductor maker GreenWaves Technologies.
GreenWaves will use the funds to expand sales channel of GAP8, the industry's first battery-powered, ultra-low-power, artificial intelligence-based internet of things processor, as well as to develop next-generation products, the Beijing-based firm said in a statement.
Huami aims to further expand its IoT ecosystem and accumulate AI technology through the move, the company said.
Founded in 2014 in Grenoble, GreenWaves is a fabless semiconductor start-up and one of the earliest chip suppliers in the RISC-V open source ecosystem. It devotes itself to designing ultra-low power, overlay-based embedded solutions for AI computing related to picture, sound and vibration in sensory devices, reshaping the market for smart sensors and IoT terminal devices.
Founded in 2013, Beijing-based Huami has rich experience in biometrics and motion data especially in the field of smart wearables. Its products include smart bands and smart scales. It listed on the New York Stock Exchange last February.