Xiaomi to bring crowdfunding to India for helping budding technology startups

Chinese technology company, Xiaomi, runs a crowdfunding platform which is slated to hit India very soon. Back in China, Xiaomi runs a huge crowdfunding platform where start-ups can deposit their hardware programs which are to be purchased by customers. These products aren’t Xiaomi branded but are compatible with the MI series. In this way, the popular brand helps budding technology start-ups raise money.

“We are open to bringing the programme but we will have to change certain things before we can launch it in India,” Xiaomi Vice President, Hugo Barra.

Speaking about the challenges this program would have to face in India, Barra further said:

“Consumers pay the money in advance and it wouldn’t be fair if they had to wait for such a long time before they get the product delivered. We will have to figure out these challenges before we can bring the programme here.”

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Xiaomi, which is betting big on the Internet of Things (IoT) space with its Mi Ecosystem has invested in above 50 start-ups that work on connected devices ranging from air purifiers to drones. The latest development by MI is the MI Purifier 2 in India which is the brand’s first offering in the home category. The special features of this air purifier are that on the auto mode, it adjusts the speed of the device’s motor automatically depending on the air quality which is measured using built-in sensors. The device is also Wi-Fi-compatible. It also monitors and regulates the filter’s lifespan and sends a reminder when it needs to be replaced.

Priced at INR9,999, this purifier will be available on Flipkart from 2nd October, 2016.

MI has also launched its MI band 2 in India which has an Oled display and is water-resistant. It has a heart-tracker and allows users to unlock their phones and check updates using the band. Priced at INR 1,999, this band will be available of Flipkart from 27th September, 2016.

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Niharika Nandi

Author: Niharika Nandi

Aspiring start-up writer who loves traveling. I'm also a self-confessed potterhead and a professional bathroom singer who likes to bake and devour hazelnut shakes in my free time.

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