Singapore smart-home startup banks $8m in series A round

Singapore-based smart-living company hiLife Interactive announced that it has raised US$8 million in its latest round of funding.

More funding details

• Lead investor: Shanghai 2345 Network
• Stage: Series A

More company updates

• The fresh funds will also help hiLife expand the offerings on its platform with new features that extend beyond residential properties.  
• The company expects to scale into newer markets in Southeast Asia like Cambodia and plans to break into Australasia and Europe by the end of 2021.
• Currently, the company operates in Indonesia, Malaysia, the Philippines, Sri Lanka, Thailand, and Vietnam.
• It has provided smart-residential solutions to over 80,000 households in Singapore to date.
• The company’s smart-access system includes visitor and vehicle management facilities, supported by license plate recognition technology that aims to increase convenience and security.
• In 2018, hiLife claimed it had penetrated a quarter of all condominiums in Singapore. The company went from having negligible revenue in 2017 to bagging contracts worth US$9.4 million the next year.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.