Shenzhen, China – March 7, 2017 – Chuango Security Technology Corporation, an award-winning and dynamic developer of wireless DIY home security systems, is pleased to announce its strategic investment in Rakwireless Technology. “In anticipation of explosive growth in the areas of IoT and wireless smart home technologies, we have decided to expand our investment portfolio to include Rakwireless,” said Ken Li, founder and CEO of Chuango. Rakwireless specializes in development of wireless hardware modules and IoT middleware, and is well-versed in protocols such as Amazon Echo®, Google Nest® Thermostat, Apple HomeKit®, IFTTT, Z-Wave and many more to come. This round of cash injection translates to Chuango owning 12.5% of stake in Rakwireless, whose total valuation is now at Renminbi ¥40 million.
Rakwireless is also development partners with Qualcomm and Semtech, and provides various end-to-end WiFi, LoRA and video transmission modules, enabling global brands and smart home security solution providers to cost-effectively launch new products and cloud-based services with shorter time to market. With distribution and service partners in China, Korea, Japan, Russia, India and the US, the company is quickly expanding its geographic reach and solution portfolio, and the investment from Chuango could not be timed any better.
According to Li, this is the 4th investment Chuango has made since it went public on NEEQ in Beijing in 2014, namely: Quectel (cellular SIM modules), Above-Link (now part of Chuango’s subsidiary DreamCatcher IoT Technology after full acquisition), Y-Cam Solutions (cloud-based home and small business monitoring) and now Rakwiress. “Today, Chuango is so much more than a security device manufacturer; with the investments and organic changes we’ve made, we are in essence a formidable force in the IoT space,” Li shared. “With rapid changes and advances in the connectivity industry and technology, we have no alternative but to increase our spending in research and development and global expansions, and connect the missing dots in our DIY security, smart home and cloud-based services portfolio.”
Chuango continues to develop, manufacture and offer all-inclusive, no-monthly-fee home security, monitoring and automation solutions worldwide through private labels and its own brand smanos, especially suitable for retail channels specializing in hardware/DIY building materials, consumer electronics and IT/mobile accessories. The multifunctional design, support and logistics centers in Amsterdam and Dallas facilitate the turning of popular demands, disruptive innovations and intuitive designs into palpable sensations. From wireless, app-enabled alarm and video systems to remote security and energy management, Chuango solutions cater to today’s mobile-driven lifestyles and ensure homeowners have complete control, comfort and visual confirmation right at their fingertips within a few short minutes and easy swipes and taps.
Companywide, Chuango has experienced rapid double-digit growth over the past 36 months, and the momentum is still picking up worldwide; the company is publicly listed and traded on the National Equities Exchange and Quotations (link in Chinese; ticker 831464) in Beijing. What’s being demanded in the residential market these days is smart, simple, sleek, mobile yet compact and integrated ingenuity, and Chuango will continue providing just that, with even more smart home and remote management options, as well as fee-based service models. Stay tuned for more!
About Chuango Security Technology Corporation
Established in 2001, Chuango specializes in wireless smart home technology, ranging from DIY security to wire-free home automation and remote management solutions. The company, along with its smart home technology brand smanos, is rapidly expanding its global footprint, partner network and solution portfolio, with products and systems researched in Fuzhou, Taipei, Amsterdam and Dallas, designed in Shenzhen and Amsterdam, created and packaged in Dongguan, and brought to life worldwide. (Publicly traded on Beijing NEEQ, ticker 831464)
About Rakwireless Technology
Established in 2014, Rakwireless is dedicated to developing and supplying IoT middleware and wireless hardware modules, which in turn enables smart home end device and solution providers to shorten time to market. The company is a licensed and/or consulting partner of Amazon Web Services, Nest®, HomeKit® and IFTTT.