Internet of Things: 3 Companies to Watch in Asia


January 22, 2024

In the rapidly evolving field of the Internet of Things (IoT), numerous innovative companies are at the forefront of integrating the physical and digital realms, signalling significant changes in everyday life and the broader technology landscape. This article delves into three emerging internet of things companies to watch based in Asia, shedding light on their recent endeavours, advanced technologies, and their potential to revolutionise how we interact with our surroundings.

Jidu Automobile

Founded in 2021, Jidu Automobile, a Chinese smart electric car maker, has amassed £294.82 million in funding, largely from a Series A round led by Geely and Baidu on January 26th, 2022. The company, initially launched as a joint venture between Geely and Baidu with an investment of over $300 million in March 2021, has made significant strides in the electric vehicle market.

This year, Jidu unveiled its first two car models, the Robo-01 and the Robo-02. The Robo-01, an electric SUV, boasts dual electric drives with a combined power of 400 kW and is equipped with a 100 kWh CATL battery, offering a range of 600 km as per Chinese standards. The Robo-02, an electric sedan, is yet to have its full specifications disclosed but could potentially exceed the SUV’s range, leveraging similar drive mechanisms and enhanced aerodynamics.

These cars are designed to embody robotic features. Geely’s SEA hardware platform underpins their electric drive, while Baidu contributes advanced driving capabilities and connectivity software. Notably, the Robo-02 forgoes conventional door handles, allowing doors to be opened via voice commands or a Bluetooth-enabled smartphone, a testament to the cars’ futuristic design and functionality.

Hubei Xingji Meizu Technology

Xingji Meizu is a company dedicated to developing and manufacturing smartphones and electric vehicles with the aim to create a smart electronic ecosystem. The objective is to offer users a seamless, intelligent, and interconnected multi-screen interactive experience that enhances the convenience and quality of their digital life.

On November 15th 2023, the company successfully secured CNY 2 billion (£224.74 million) in a Series A venture funding round. This round was spearheaded by Asia Investment Capital and Harvest Capital Management (China), valuing the company at over CNY 8 billion before the investment. Key participants in this funding round included QC Capital, Winreal Investment, Xingyuan Fund, and Wuhan Economic Development Investment. Prior to this, the company had also received venture funding from Wuhan Jingkai Collaborative Private Equity Fund Management Co., Ltd. on January 9th 2022.


Specialising in tailored products and solutions for the semiconductor industry, this company offers transformative solutions that convert application software into transistor-level layouts. Its expertise encompasses areas such as server and computing, automotive, Internet of Things (IoT), and both wired and wireless networking. This approach allows clients to leverage the company’s comprehensive experience in simultaneous hardware and software development, facilitating the conversion of conceptual ideas into tangible products.

On January 2nd 2024, the company successfully secured over CNY 100 million (£11.08 million) in Series B venture funding, led by SDIC Venture Capital, with participation from Z&Y Capital. This funding will be primarily utilised for the research and development of enterprise-level high-speed interface IP and Chiplet products. This funding will also be used to hasten the implementation of Chiplet products and facilitate the recruitment of top talent. Prior to this, the company had raised close to CNY 100 million (£10.89 million) in a Series A+ venture funding round on September 8th 2023, which saw contributions from Shangqi Capital, Beijing Jianyuan Investment Management, and China Unicom Investment.

Published on 22-01-2024


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