Xie Zhu, company providing smart technology for hotels, has raised $46 million in a Series B round.
The round is led by Yida Capital, with Qingdao Haikong Tiancheng Fund and Shun Capital also involved.
According to a statement on its website, Xie Zhu will use the investment to “strengthen product research and development, ramp up expansion and improve customer service.
The company also plans to expand its Internet-of-Things technology to other sectors such as elderly care and smart homes and offices.
Suzhou, China-based Xie Zhu announced funding of $37 million in January last year saying it planned to invest in product development, expansion in the region and preparation for an IPO.
The company says it has spent the past year releasing new products and several new product lines including touchless services.
