Liu Jiangfeng battles smart home again, Advantage Technology completes 140 million yuan round A financing

After leaving Coolpad, Liu Jiangfeng, the man in the smart phone industry, chose the smart home field. In 2017, he established merit technology and focused on smart locks and other IOT smart home products.

At the Nut 3 mobile phone conference in April of this year, the company’s first consumer-grade product smart lock was introduced to everyone by Luo Yonghao. Liu Jiangfeng himself not only has personal relationships with the founder of Hammer Technology, but also two startup companies. Also formed a cooperative company relationship. At the time, Liu Jiangfeng claimed that "there are about two or three thousand manufacturers who make locks. There is hardly any one of them that sells more than one million, and their production capacity is less than one million." The prices of the three smart lock products announced at the press conference ranged from 1599 to 1,999 yuan to 2,699 yuan, while the official data from Meritorious Technology stated that the total amount of the signing of the investment promotion club exceeded 100 million yuan.

IDC expects that the smart home market will grow to about US$277 billion by 2022, and domestic data shows that the scale of China's smart home market will reach approximately 377.6 billion yuan by 2020, and the smart home market is now including Xiaomi. The growing concern of domestic Internet companies.

Today, Advantage Technology completed a round of A financing of RMB 140 million, led by Northern Lights, Fu Zhikang and others. The company currently has a valuation of nearly RMB 700 million. Finally, Liu Jiangfeng, who claimed to be “doing cell phone injuries,” had the capital to prove himself in the new battlefield of smart homes, which is now in chaos.