XGimi Technology Co. Ltd. announced a private placement of $95 million on March 12, 2018. The transaction saw participation from Baidu, Inc. (NasdaqGS:BIDU), Matrix Partners China, Sichuan Cultural Industry Upgrade Equity Investment Fund Partnership Enterprise (L.P.), a fund managed by Sichuan Runheng Development Equity Investment Fund Management Co., Ltd., Fortune United Partners, Sailing Capital Advisors (HK) Limited, Bojiang Capital Management Group, and Luxin Venture Capital Group Co., Ltd. (SHSE:600783).