Xiaozhu teams up with Alipay on smart locks

Chinese home-sharing company Xiaozhu Inc will partner with Alibaba to develop smart locks to improve its services amid competition with United States counterpart Aribnb Inc.

The move is part of a broader push to partner with companies affiliated with Alibaba Group Holding Ltd, after the startup raised $120 million in its latest financing round led by Alibaba founder Jack Ma's Yunfeng Capital. Existing investors, including Joy Capital, and Capital Today, also participated in the funding.

Chen Chi, CEO of Xiaozhu, said in an exclusive interview with China Daily that: "The investment enables us to better access Alibaba's resources. The smart locks that we are launching with Alibaba will boost the security of home-sharing services."