Smartphone maker Xiaomi to up stake in IoT startup Zimi for $102.84m

Smartphone maker Xiaomi to up stake in IoT startup Zimi for $102.84m

A wireless charge bluetooth speaker launched by Xiaomi on February 18, 2020

Beijing-based Xiaomi Corp has entered into an agreement to invest about $102.84 million in Zimi, a Chinese maker of Internet of Things (IoT)-based hardware and mobile accessories, as the smartphone maker aims to boost its 5G and IoT capabilities.