The deal was led by Creo Capital and included leading Chinese venture capital firm Shunwei.
RAK was founded in 2014 and has grown to hold partnerships with Apple, Amazon, Alibaba, Tencent, and Microsoft, amongst others.
RAK said it would use the money to build a one-stop service factory including assembly to help take products from prototype to commercial launch.
"With this round of funding, we aim to build a truly one-stop service factory, enabling us not only to create and produce better products, but also to provide custom design, assembly service and more to our customers," said RAK CEO Ken Yu, in a statement.
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