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Xiaomi strikes gold

Xiaomi, the Chinese company that's one of the world's fastest-growing smartphone makers, has raised $1.1bn (€900m) in a round of funding that cements its status as one of the world's most valuable private technology companies.

The successful funding round values the company at $45bn (€37bn).

Investors include private equity funds All-Stars Investment, DST Global, Hopu Investment Management, and Yunfeng Capital, as well as Singapore sovereign wealth fund GIC.