Addor leads $70m round for China app developer

Other participants in the round include Qihoo360 and Yi Capital. The company will use the capital for product development and talent acquisition, both within China and around the world. It will also invest in its mobile game platform and in social networking.

Holaverse specializes in customization apps for mobile devices running Android; its apps, including flagship products Hola Launcher and Omniswipe, have been downloaded 460 million times since the company launched in December 2014. The company focuses on growth in global markets, rather than within China, seeking to become an internationally-known Android developer.

"A substantial piece of the demand for products and services delivered via online and mobile in markets outside of China remains unanswered," said Addor Partner Huang Tao, in a statement. "Addor Capital admires Holaverse's courage to delve into and explore the unknown as well as its streamlined product concept, efficiency and strength in R&D in addition to its strong executive ability."

Addor is a subsidiary of state-owned fund Govtor Capital, which focuses on technology, healthcare, media and environmental opportunities. Its investments include a RMB300 million ($50 million) Series B round alongside JD Capital for online second-hand car trading platform Mychebao and a RMB500 million Series A round, with New Horizon Capital, for rural-focused online home appliance retailer Huitongda.

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• Topics
• Greater China
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• Expansion
• China
• TMT