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With millions in new funding, Misfit eyes the smart home

Misfit Flash
The Misfit Flash is a decent activity tracker

With $40 million (about £25.5m, AU$47.5m) in new funding, wearable maker Misfit is looking to expand its reach in China - and beyond wearables into the smart home.

"People like the stuff that we've got, but we need to get more products out, and faster," Misfit co-founder and CEO Sonny Vu told Re/code.

He didn't go into detail, saying only that Misfit plans to launch "several smart home products over the next few quarters."

In addition Misfit will focus on its existing fitness bands, the Misfit Shine and Misfit Flash Line, as well as "advanced wearables" that aren't limited to the wrist.

The funding comes from a variety of investors, chief among them Chinese smartphone maker Xiaomi and Chinese retail site, where the Misfit Shine is the top-selling activity tracker.