According to published reports, Misfit Wearables a maker of fitness activity and sleep monitors, has raised $40 million in a third round of venture funding.

Xiaomi, Chinese online shopping company JD.com, and venture capital funds GGV Capital and Shunwei Capital Partners accounted for more than half of the funding. Existing investors, including billionaire Li Ka-Shing's Horizons Ventures, made up the rest, according to the report.

Misfit is developing highly wearable sensor products and services for wellness and medical applications. The firm's flagship product, Shine, is a wearable device that you never have to plug in to recharge. Simply wear Shine all the time and replace the commonly available CR 2032 lithium cell every few months.