Chinese smartphone company Xiaomi is now reportedly worth $45 billion. The company recently confirmed the $1.1 billion funding round led by All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others, reports YourStory.

Co-founder and President of Xiaomi, Bin lin confirmed the news via a Facebook post:

We just completed the latest round of funding last week, raising US$1.1 billion at valuation of US$45 billion. Investors include All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others. This is an affirmation of Xiaomi’s stellar results in four years, and heralds a new phase for the company.

We will strive to continue bringing innovation to everyone, with a goal of producing high-quality, high-performance devices with great user experience. In January 2015, we will be unveiling our next flagship device. Big thanks to all Mi fans, business partners and investors for your strong support.

According to the YourStory report, the $45 billion valuation puts Xiaomi ahead of both Sony and Lenovo combined in terms of worth. 

The $1.1 billion funding is also one of the largest tech financing rounds in the history after the $1.2 billion funding rounds of Uber. At its last financing round in August last year, Xiaomi was valued at $10 billion.