On 4 April, the Chinese handset major Xiaomi said that it will bring its crowdfunding platform to India through which it will sell a select range of 'innovation-driven products'.

Xiaomi crowdfunding. Mi.com.

Under the programme, Xiaomi will curate a list of these products. However, only after reaching a certain sales number will the product be shipped to the customer. In case the product fails to meet the targeted sales in the set timeline, customers will get their money back.

The first two products that the company is bringing to the platform in India is an audio bluetooth receiver (Rs 999) and a tripod selfie stick (Rs 1,099). First is a Mi Bluetooth Audio Receiver which is a headphone amplifier. It is supported by a Bluetooth 4.2. Second is the Mi selfie stick tripod is a unit of a tripod and selfie stick. It comes with a bluetooth shutter remote.

"India is the first country outside of China where we are launching the crowdfunding platform. It will enable us to gauge response for new product categories among consumers and determine a roadmap for such products," Xiaomi India Head Online Sales Raghu Reddy told PTI.

He added that the platform is also important in understanding consumer sentiment for technology products that are not yet part of the company's portfolio.

Reddy said the company will bring new products on the platform every quarter.

The platform is being launched as part of the company's Mi Fan Festival that will run from 5 April to 6 April. The company will offer a range of discounts and offers across products on its website Mi Home as well as partner channels.

In China, Xiaomi runs the crowdfunding platform where hardware startups submit their products and consumers can book them, helping these companies also raise funds in the process.

Xiaomi, which is betting big on the Internet of Things (IoT) space with its Mi Ecosystem, has already invested in many startups that work on connected devices ranging from air purifiers to drones.

In India, Xiaomis product range includes smartphones, LED TVs, power banks, and mobile accessories. However, in its home market, the company has an extensive range of products that includes robot vacuum cleaners, security cameras, water filters, smart rice cookers, and hoverboards.