Xiaomi to reportedly raise $1.5 billion in latest round of funding

Last week, it was reported that Xiaomi is seeking funding that will value the company at $40 billion. Now, a fresh report from China Daily is claiming that Xiaomi is talking to investors and banks to raise about $1.5 billion in its fifth round of financing.

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The funding which would be the largest investment (excluding IPO) raised by any Chinese company backed by venture capital, said financial news website Jiemian of the Shanghai United Media Group. The report further states that a London based investmnet firm, DST Global that focuses on internet companies is likely one of the investor in this funding round.

In the past reports have also surfaced which hint that an IPO may be in pipeline. Last week, Hong Kong-based South China Morning Post reported that Xiaomi which is valued by various analysts at over $40 billion, is aiming for an initial public offering as early as next year. Meanwhile, Xiaomi continues to be popular in China and other Asian countries including India. The Chinese smartphone maker became the third largest smartphone maker in the world as its Q3 2014 sales hit 17.3 million units.

If Xiaomi is able to raise money at a valuation of $40 billion or higher, it would become the world’s most valuable private technology company and rank among the most valuable device manufacturers. There is no word from Xiaomi about the latest funding round as yet.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+