XGIMI Receives C Round Financing from Baidu
2017/12/13 | Source:天府软件园

On November 20, “XGIMI Technology”, a start-up in Tianfu Software Park and the leading brand of screenless television, announced that it completed the C round financing led by Baidu Ventures (BV). This round of financing is mainly for R&D of screenless television and laser screenless television, and improvement of core technology and application ecological layout. After its sales volume exceeded RMB 200 million on November 11, XGIMI obtained investments from BV. XGIMI will further enhance its leading advantages and make in-depth cooperation in AI with Baidu based on post-investment value-added services to jointly develop the next-generation intelligent television.

Before, “XGIMI Technology” has got three rounds of financing, including RMB 100 million in A round financing from CDF-Capital, Chengdu Technology Transfer Group Co., Ltd. and Shishi Jiarui Commercial and Trade Co., Ltd. The B round strategic investment was from Mango Media. In addition to cash investment, there was also resource investment and license. In the B round financing, RMB 120 million was invested by Zhong Nan Culture, CDF-Capital, Dingfeng Asset and Grit Ventures.

Since its founding, XGIMI has set the development goal of developing the brand of “future TV”. In 2014, it heralded the brand-new product of “screenless television” in the market. After that, it has been specialized in design, R&D and production of screenless television. XGIMI Technology would like to overturn traditional television through screenless one so as to provide users with more fantastic audio-visual experience, and break the restricts that users’ entertainment demands are restrained by screen size and that large-screen devices are not available in small site. Compared with the intelligent projector, XGIMI screenless television is equipped with video decoding system and image quality optimization engine same as those of intelligent television. In addition, many algorithms related to television like dynamic noise reduction, dynamic contrast and definition as well as the underlying optimization of the system are applied. Systematic, content-based and interactive optimization for television scene has been conducted. In short, the screenless television displays images through projection rather than LCD screen. Image quality and sound effects of screenless television are about the same as those of LCD television. Furthermore, the screenless television is compact, portable and flexible.

Over the past few years, XGIMI has launched the home entertainment range, portable entertainment range and imea intelligent projector for children. In this July, XGIMI launched three laser screenless models, including 120 in. dual-color, 4k laser screenless television T1, 100 in. 1080p laser screenless televisions A1 and A1 Pro. A1 Pro has got the CES 2018 Innovation Awards in Home Audio & Video Components and Accessories.

Advanced technology and innovative products have brought market recognition to XGIMI. At the “double eleven shopping festival”, the sales volume of XGIMI’s screenless television H1S exceeded 30,000 units. Zhong Bo, Founder and CEO of XGIMI, was elected into “the Thousand Talents Plan” of Sichuan in 2016 and ranked on the list of “2017 Top 40 Chinese Business Elites under 40” by Fortune's Chinese version in 2017.


 

Liu Wei, CEO of BV, indicated that BV set high expectation that screenless televisions would reach households quickly to make users enjoy super-large screen, wonderful interactive experience and more pleasant moments. For the past few years, XGIMI has consistently improved their products. Now it has become the bellwether in this market. BV will further assist XGIMI with its development and facilitate it to reach thousands of households and go global by introducing advanced technologies, utilizing Baidu’s technologies and content resources, co-building application ecology of intelligent screenless television, etc.