In brief: Baidu pumps $87m in Chinese smart lock startup

China’s search engine giant Baidu has led a US$87 million financing round in YunDing Network Technology, a startup focused on smart locks. The investment is Baidu’s latest effort in pushing the growth of smart home devices in the country. Baidu said in a statement that it will power YunDing with its AI technologies and smart cloud service to “further complete its smart home ecosystem”.

Source: South China Morning Post