China-based wearable maker Codoon has raised a $30 million Series B round from SIG and SBCVC, TechInAsia is reporting. The new investment comes just half a year after the company picked up a $10 million series A round from CITIC Capital.
Codoon was made (in)famous for cloning the Jawbone Up fitness band. Later on, it decided to tweak the design and came up with an original device, one that wouldn’t be compared to competing popular wearables.
Similarly to other products in this category, Codoon’s products can track user’s activity and sleep, and deliver the information gathered through an accompanying mobile app. Said application will get additional features in the near future, with various social elements coming in to incentivize users’ exercise.
Codoon offers an API for developers and a firmware ROM that can be used to run some other smart wearables.
Right now, Codoon sells two different fitness trackers, costing RMB 399 (US$65) and RMB 499 (US$82). In comparison, Xiaomi’s Mi Band is going for only RMB 79 (US$13).
Aside from activity tracking, Codoon also makes a smart kitchen scale and heart rate monitor, both of which connect to the user’s smartphone via Bluetooth.