Xiaomi had earlier revealed that it had an exciting announcement scheduled for April 15. Today, the company announced that it had jointly invested $80 million in Ninebot. Furthermore, the Chinese robotic startup has acquired its American rival Segway for an undisclosed amount. Also Read - Xiaomi might have a new Snapdragon 888 phone up its sleeve, to be Mi 11T
Ninebot acquires Segway and gets $80M investment from Xiaomi and Sequoia http://t.co/P5SsF6ud4x pic.twitter.com/ZmcCCkTRRa Also Read - Xiaomi Mi Electric Scooter Pro 2 Mercedes-AMG Petronas F1 Team Edition showcased in IndiaAlso Read - Xiaomi Mi 10i gets discounted by Rs 1,500 on Amazon India: Check the deal
MIUI (@miuirom) April 15, 2015
In a blog post, CEO Lei Jun welcomed Ninebot as a part of its growing Mi ecosystem. Xiaomi, along with Shunwei Capital, Sequoia Capital and WestSummit Capital, invested $80 million in Ninebot. The Chinese robotic startup was founded by a team of robotic engineers and developed WindRunner, a self-balancing electric vehicle in 2012. The company s portfolio also includes Ninebot One, an intelligent and fashionable personal transportation interactive tool.
Epic milestone for China tech today: Xiaomi portfolio company Ninebot acquires Segway
Hugo Barra (@hbarra) April 15, 2015
While it isn t surprising to see Xiaomi adding to its Internet of Things ecosystem, the bigger news here is Ninebot s acquisition of Segway. The American company first unveiled its two-wheeler back in 2001, but what was once seen as a way of revolutionizing transportation, has failed to live up to that. The company has previously accused Ninebot of patent infringement, something that is no more applicable after the sale.