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China’s Douyu TV raises further $226m

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Douyu TV, a Chinese online platform that features live videos of people playing games, has raised a RMB1.5 billion ($226 million) Series C round of funding led by Phoenix Investments and existing investor Tencent Holdings.

Shenzhen Capital Group, the state-backed Small and Medium Enterprises Development Fund and Hongta Hotland Asset also participated in the round, according to Tencent QQ News.

Founded in 2013, Douyu TV allows users to watch professional gamers playing games. The platform now has around 15 million daily active users and 200 million monthly users. It has recorded up to four million users watching its live feeds at the same time.

The Series C round came five months after Douyu secured $100 million in a round led by Tencent - which committed $61 million to the company. Existing investors Sequoia Capital and Nanshan Capital also participated.

Douyu wants to become an integrated live broadcasting platform, providing video content across games, music, technology, outdoor activities, sports and films. With the new investment, Douyu will increase online traffic and improve user experience, along with developing high quality video content.

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