Chinese tech firm Xiaomi may soon bring its ‘crowdfunding’ platform to India that will help start-ups working on consumer electronics to sell their wares through the medium.
In China, Xiaomi runs a crowdfunding platform where hardware start-ups submit their products and consumers can book them, helping these companies raise funds in the process. While these are not Xiaomi-branded, the products are compatible with Xiaom’s Mi Home app.
Xiaomi vice president Hugo Barra notified that Xiaomi is open to bringing the programme but they will have to change certain things before they can launch it in India.
Xiaomi, which is betting big on the Internet of Things (IoT) space with its Mi Ecosystem, has invested in 55 start-ups that work on connected devices ranging from air purifiers to drones.
Talking about the challenges of bringing the platform to India, Barra cited the example of certifications that electronics products need for selling in the country, which takes anywhere between 3-6 months to get.
Xiaomi has a range of products like robot vacuum cleaners, security cameras, water filters, smart rice cookers, smart televisions and hover boards that are available in its home market.
Barra said that Xiaomi’s focus is on re-defining the consumer electronics segment by bringing in innovation at affordable prices. He further mentioned that Xiaomi will gradually bring the other home products to the Indian market as well.
Xiaomi is also launching the new version of its Mi Band 2, priced at Rs 1,999. It features an OLED display, has a battery life of 20 days on a single charge and is IP67 splash-resistant. It has a fitness, sleep and optical heart rate tracker and allows users to unlock their phones and provides call and app alerts.
By Baishakhi Dutta
