Xiaomi's Latest Round of Fundraising Said to Net US$ 1 Billion

(Beijing) – Xiaomi Inc. received more than US$ 1 billion in its fifth round of fundraising, a source with knowledge of the matter said, a figure that values the Chinese smartphone maker at about US$ 45 billion.

Xiaomi got the funds from both domestic and foreign investors on December 20, a source close to the company said. Backers included Singapore's sovereign wealth fund GIC Private Ltd.; Russia's Digital Sky Technologies; Yunfeng Capital, which was co-founded by Jack Ma; and All-Stars Investment, which was set up by Richard Ji, a former analyst at Morgan Stanley.