In 2005, Accel and IDG Technology Venture Fund launched the joint venture IDG-Accel to invest in fast-growing enterprises in information technology, healthcare, consumer technologies, and other emerging technologies in China.
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Jul 20, 2020
Cassia Networks Raises $10.27M Series B Co-Led by IDG-Accel and Everest Capital to Further Enterprise Solutions Offerings You are here: Cassia Networks Raises $10.27M Series B Co-Led by IDG-Accel and Everest Capital to Further Enterprise Solutions Offerings Company Also Launches New Cassia BlueStream™ Feature That Lets Users Conveniently Stream Audio to Multiple Bluetooth Speakers Simultaneously NEW YORK – OCTOBER 11, 2016 – Cassia Networks ( www.cassianetworks.com ), maker of the world’s first Bluetooth router, is announcing today at the Bluetooth SIG Discover Blue Conference that it has secured $10.27 million in Series B funding co-led by IDG-Accel and Everest Capital, with participation from China Rock, Social Starts, GCP Venture, Z-park Capital, TEEC Angel, and SumaVision USA. This investment brings the company’s total funding to over $13 million. Cassia Networks, which first gained recognition for its Best of CES product, Cassia Hub®, the world’s first long range Bluetooth router, will use the funds to scale operations and support its emerging enterprise solutions offering for a variety of applications including audio, medical & health, senior safety, education, fitness & sports, and other industrial applications. In addition to new funding, Cassia Networks is unveiling a groundbreaking, new, patent-pending feature, “Cassia BlueStream™,” which lets users set up their own multi-room Bluetooth speaker system using any Bluetooth speakers and the Cassia Hub. The new feature doesn’t require any change in user behavior and lets users stream music from any app – Spotify, Pandora, iTunes, etc. – to multiple speakers simultaneously by simply connecting to the Cassia Hub as if it were a Bluetooth speaker. Users can also BlueStream™ audio from any Bluetooth audio source including smartphones, tablets, computers, Amazon Echo and more. “We believe Cassia Networks’ improvements in Bluetooth are a game changer and laying the groundwork for the new future of IoT applications” said Maria Zhang, Investment Partner, IDG-Accel. “We are excited by the business opportunities presented by Cassia as their innovation will have far reaching effects on a variety of industries including everything from medicine to sports, connected home and more.” “Cassia Network’s technology enables an entirely new category of IoT applications via Bluetooth that were previously not possible,” said Jing Wang, Everest Capital founder. “We are confident that Cassia Networks has the best team and collective experience to bring the vision of Bluetooth as a universal wireless protocol to fruition.” “At Cassia, we’re partnering with innovative companies aiming to develop emerging new applications for Bluetooth,” said Felix Zhao, CEO of Cassia Networks. “We’ve received hundreds of inquiries about implementing our hubs in a variety of enterprise settings and industries and we’re excited about the opportunity Bluetooth has to play in the growth of the Internet of Things.” The Cassia Hub with BlueStream™ is available for purchase from the Cassia Networks website for $149.99. Previous Cassia Hub owners can get the BlueStream™ feature through a firmware update. Visit www.cassianetworks.com for more information. About Cassia Cassia Networks was founded in 2014 with a mission to liberate Bluetooth and make it the universal wireless protocol of choice for the next generation of IoT applications. The company’s first product, the Cassia Hub, won Best of CES 2016 in the Connected Home category for being the world’s first Bluetooth router and enabling long distance and remote control of up to 22 Bluetooth devices without requiring any changes to the Bluetooth end devices. Located in the heart of Silicon Valley and Beijing, Cassia Networks is made up of a group of talented individuals from some of the top internet and communications companies like Google, Cisco, Tencent, Aruba, Roku, and Facebook. Media Contact