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In China, there’s now a “Xiaomi of condoms” startup. And it just got $5M in funding

Startups around the world love to nickname themselves after other successful startups. Right now in the US, there’s the “Uber of this,” the “Facebook for that.” In China, where smartphone maker Xiaomi is the hottest tech firm out there, you’ll come across startups calling themselves the “Xiaomi of xyz.” It’s a meaningless catchphrase that often holds no weight. But for the case of Daxiang, an online condom retailer, there might be some validity behind its claims – according to Chinese tech blog 36kr, the company just closed a US$5 million series A funding round.