Smart Home Product Maker Trifo Bags $15 Million In Series B Round

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Trifo

Trifo, the Santa Clara-based smart home product makers like an autonomous vacuum cleaner has announced bagging $15 million in Series B financing which is being led by Yidu Cloud. It also saw participation from Tsinghua AI Fund and Matrix PartnersBefore this round, the firm had secured $11 million as part of Series A round in November 2018 which was led by Tsinghua AI Fund. The current infusion takes the total amount raised by the firm to $26 million.

The company was founded by Zhe Zhang in 2016 and it was initially called PerceptIn. The firm announced the launch of Lucy, a $799 robot equipped with cameras that enable it to surveil rooms while recognizing and cleaning them. Zhe Zhang, the CEO of the firm, talking about the newly launched Lucy said, “Lucy reflects the evolution of our products from robot vacuums to AI IoT-enabled home robots that can assist with a wide range of features that help people with their life and work." The company plans to use the freshly raised capital to boost up the hardware and software development along with its expansion to the European and U.S. market.

Yidu Cloud's Senior Vice President Rick Liang talking about the funding said, “We support Trifo’s vision for AI home robots, which goes beyond traditional cleaning capabilities. With the strategic investment in Trifo, we look forward to enhancing the home robot experience into a new dimension (i.e., healthy home and consumer-level health monitoring).”

Yicheng Li, a Partner at Tsinghua AI Fund said that “Trifo has quickly developed highly advanced algorithms and AI-based robotic intelligence and monetized these into commercially-viable products. We are eager to support the company and Zhe’s leadership as it expands its offering into a complete ecosystem of home robots to serve a wide range of people’s needs.”

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