Rokid set to challenge Amazon and Google, raises $65M Series B
October 27, 2016
Rokid, the developer of a smart home device that delivers on-demand information and performs tasks via voice and visual interactions, has raised a $65 million Series B led by IDG Capital Partners and Walden International. Both firms also participated in the company's $20 million Series A last year.
Although the market for the connected home is relatively new, there have been some interesting developments of late. Google's acquisition of Nest in early 2014 for $3.2 billion drew everyone's attention to the space, with tech giants and VCs alike starting to invest more heavily since. Perhaps the foremost product out there today is Amazon's Echo device, which is powered by its voice-controlled AI technology, Alexa. Amazon even launched a $100 million fund in June 2015 that would focus on backing startups utilizing Alexa. Google is working on a similar product called Google Home to be powered by its AI assistant.