Chinese tech giant Xiaomi is fast emerging in the world of technology as a tough competitor to other top mobile making companies. After its home market China, the company eyes to do big in the global market. According to reports, Xiaomi in a first such step has started betting big on smaller startups.
The company is said to have already invested in more than 20 startups and plans to invest in a hundred more to help them achieve growth.
Xiaomi CEO, Lei Jun has said that their strategy is to grow the company into an "ecosystem empire" with the focus being on software that can link up anything, anywhere. "We plan to move full steam ahead in its quest to become an ecosystem empire" he has added.
Recently, Ninebot a Xiaomi backed robotics company acquired Segway-a big step for Xiaomi as it was for the first time one of their group companies had acquired a globally recognised brand.
In December 2014, Xiaomi became a $46 billion company after it received US$1.1 billion funding from investors thus making it the world's most valuable technology start-up.
Besides smartphones, Xiaomi develops mobile apps, accessories and smart consumer electronics. The firm is fast working to be a big hit in Asian markets especially in India.
Last December, Xiaomi became the world's most valuable technology start-up after it received US$1.1 billion funding from investors, making it a $46 billion company.
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