Chinese tech company Baidu raised Series B funding valued at $5.1 billion for Xiaodu Technology, its smart home business for smart speakers, displays, and more. Xiaodu is also the developer of DuerOS, the software that powers the company’s voice assistant technology. Back in September, Baidu raised Series A funding valued at $2.9 billion for its internal unit that oversees both Xiaodu and DuerOS. These two fundraising rounds hint at Baidu’s expansion efforts — increasing usage of its smart speakers, in addition to a partnership with Chinese device manufacturer Midea, has framed the company to lead in the Chinese market over competitors Xiaomi, Huawei, and Alibaba.
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