Alibaba Group Holding Ltd. (BABA) has invested $50 million into U.S.-based startup Peel, which makes applications for remote controls. The investment is on top of an initial $5 million that Alibaba funded the company with in 2013. 

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Peel's main attraction is an app that turns Android and iOS smartphones into remote controls that can be used with TVs, computers and other electronic devices. Peel currently works with DirecTV and Dish TV boxes, removing the remote. The app has been unable to work with Comcast remotes, something Microsoft tried and failed to do with the Xbox One.

Alibaba has invested in other U.S. startups in 2013 and 2014, including ride-sharing app Lyft, messaging app Tango, and mobile gaming firm Kabum. 

Peel CEO Thiru Arunachalam told tech news website Re/code that Alibaba was attracted to Peel's app install base of 96 million people. He added that there was no pressure to integrate Alibaba e-commerce features into the app.

"They are more and more like a regular VC," Arunachalam said, referring to venture capitalist investors. "They pick a space and invest and let the company continue to progress."

According to Re/code, Peel charges TV networks to promote their shows on the app, which displays TV show listings and times. Arunachalam said Peel will take in approximately $8 million in revenue this year and forecasts $20 million in revenue for 2015.

TagsPeel, venture capital, TV remote, iOS apps