Xiaomi makes strategic investment in Shanghai Pateo, branching into car networking

Car networking services company Shanghai Pateo has obtained Series B financing round from Xiaomi Technology. The financing amount of the strategic investment and specific share ratio have not been disclosed. Pateo will cooperate with Xiaomi in aspects of software, hardware, and voice multi-scenario interaction.

Car networking services company Shanghai Pateo has obtained Series B financing round from Xiaomi Technology recently. The financing amount of the strategic investment and specific share ratio have not been disclosed. Pateo will cooperate with Xiaomi in aspects of software, hardware, and voice multi-scenario interaction.

Pateo was established in October 2009 and is headquartered in Shanghai. It is one of the earliest enterprises to enter the car networking industry in China.

The company primarily provides car networking services in automotive electronics, Telematics, automotive e-commerce platform, and automotive whole value chain innovation. Its core platform includes functionalities in car navigation, car radio, passenger seat entertainment, driver-less car monitoring.

As a world-renowned consumer-level IoT platform, Xiaomi’s IoT platform has already connected 235 million IoT devices. Xiaomi’s voice assistant “Xiao Ai” will play an important role in the car networking scenario. Lei Jun, founder, chairman and CEO of Xiaomi, said that the car networking is an important part of future technology, and cars are also the most important smart terminals in the lives of people in the future.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/19/xiaomi-makes-strategic-investment-in-shanghai-pateo-branching-into-car-networking/.

Leave a Reply

Your email address will not be published. Required fields are marked *