After crowdfunding triumph in China, smart power adapter maker raises $6.4M funding

Kankun Technology, the maker of a smart electrical socket in China, has announced it raised a series A round worth RMB 40 million (US$6.4 million) led by Beijing Holch Capital, according to Sina Tech.

Kongke is best known for K-series smart plugs. The universal power adapters connect to a user’s home wifi and are controlled by a smartphone app. The basic version boosts wifi signal, monitors phone charging, and powers on plugged-in appliances like lights, washing machines, water heaters, and air conditioners remotely. The process can be automated to work with your daily schedule; for instance, turning on the air conditioner on the way home from work.

The second generation of the plug adds a suite of USB-powered gadgets like a security camera, infrared remote for appliances, and climate monitor. The K2 does everything the basic version does plus integrates the USB modules and comes with two built-in USB charging ports. The modules send signals to the plug, which push the data and video stream for the camera to the smartphone app.

Both devices were successfully crowdfunded on Demohour, a Chinese counterpart to Kickstarter. The basic version raised over US$100,000, while the K2 raised a whopping US$837,000.

Kankun’s devices all communicate using the Zigbee protocol – the same way Xiaomi’s smart home gadgets talk to each other. The plugs cost RMB 79 (US$13) and RMB 99 (US$16), while the USB modules cost RMB 29 to 39 (US$4.70 to $6.30) each.

Kankun will put the fresh funds toward new product development, user experience enhancement, and expanding the team. The startup is reportedly working on a new product, but no details have surfaced yet as to what it might be.

Note: this is a translated video for demonstration purposes only, and is not from an official Kankun vendor.

(Source: Sina Tech)

See: 10 of our favorite crowdfunding projects to come out of China this year