China-based Tuya, which helps deploy and manage IoT devices, raises $915M in its US IPO and closes its first day of trading up 19% for a market value of $14B

China-based IoT solutions provider Tuya has raised $915 million in its US IPO, closing its first day of trading up 19% for a market value of $14 billion, according to Bloomberg. Tuya helps companies deploy and manage IoT devices, providing a platform for device manufacturers to connect and control their products via the cloud. The company plans to use the funds from its IPO to expand its global market presence and invest in research and development.
China-based Tuya, which helps deploy and manage IoT devices, raises $915M in its US IPO and closes its first day of trading up 19% for a market value of $14B

chinabased tuya 915m us 14b