iKuddle receives tens of millions of financing

iKuddle, a developer of pet-centric AI Internet of Things (AIoT) smart devices, announced that it has received tens of millions of yuan in financing from Pingtan Chuangxiang Future Investment.

iKuddle, a developer of pet-centric AI Internet of Things (AIoT) smart devices, announced that it has received tens of millions of yuan in financing from Pingtan Chuangxiang Future Investment.

Based on the needs of pet raising families, iKuddle develops and upgrades pet products and services through the C2M data information feedback mechanism.

This round of financing took only about 2 weeks from contacting investors to completion of the investment cycle.

The founder of iKuddle is an experienced serial entrepreneur. In 2018, iKuddle was established.

In 2019, a new product launch conference of its first fully automatic smart cat litter box held at CES in the United States, and it was covered by more than one hundred international media around the world. In 2020, it won the CES 2020 Innovation Award.

iKuddle has an experienced Chinese and overseas operation and technical team, and its sales in the overseas market exceeded 10 million yuan in its first month.

At present, there are more and more pet-raising people around the world. They put forward higher requirements on quality, design, pet health, and user experience, leading new consumer trends.

This upgrading of pet consumption has become a rigid demand, but there are still many pain points for pet families. According to the data of China Pet Industry White Paper in 2020, the number of dogs and cats in cities and towns across the country in 2020 will increase by 1.7% compared with 2019, reaching 100 million for the first time, and the scale of the consumer market will reach 206.5 billion yuan, with an increase of 2% compared with 2019.

iKuddle focuses on emotional and intelligent companionship to enhance family happiness, thereby integrating the pet industry, the Internet of Things and smart homes.

This round of financing was exclusively invested by Pingtan Chuangxiang Future Investment. As a
corporate venture capital (CVC) company focusing on the IoT, it has started strategic investment and innovation incubation in the global IoT industry in 2015, and has established a portfolio of more than 10 early-stage and large-scale companies, covering key vertical and horizontal markets on IoT.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/02/27/ikuddle-receives-tens-of-millions-of-financing/.

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