Baidu announced strategic investment into Coocaa

Baidu announced a strategic partnership with Skyworth today in Beijing to develop a fully-integrated in-home ecosystem powered by AI.

Skyworth will be integrated with DuerOS, a conversational AI system by Baidu, as part of a strategic cooperation to use technology, content, data and operations together to create a revolutionary new smart home experience.

Baidu also announced will invest CNY1.05 billion into a Skyworth RGB Electronics’ subsidiariy Coocaa which is one of the largest smart TV OTT platforms in China.

Tencent invested CNY300 million into Coocaa in exchange for a 7.7% stake in July 2017.

iQiyi, another Baidu’s sub company invested CNY150 million in September 2017.

Skyworth is still owns a 64.32% stake after the deal.

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