Chinese home projector maker Xgimi announced yesterday it has received a RMB 100 million (US$16.2 million) round of series A funding from CDF Capital and Chengdu Technology Transfer Group, according to 36kr.
The Chengdu-based manufacturer has sold 50,000 units of its home theater smart projectors. The latest model runs on Android 4.2, projects up to 180 inches diagonally at 1080p resolution, and offers 3D capabilities. The projector combines traditional and internet TV, boasting cable, VGA, and HDMI inputs and allowing for interent streaming.
The projectors are flying off the shelves and the company is struggling to keep up with demand, so this investment will go toward increasing productivity and quality control in the supply chain.
About the size of a textbook, the Xgimi easily fits into a backpack or large purse, placing it into the “portable” category of projectors.
Xgimi is crowdfunding its next generation projector on JD, where it has already surpassed its goal with three weeks remaining. So far the project has raised over RMB 453,000 (US$73,000). This next version will come with a 10,400mAh battery that can last over two hours.
The Xgimi Z3 projector is available on JD for RMB 2,999 (US$485).
(Source: 36kr)Editing by Steven Millward