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Taiwan’s Next Entertainment gets $25m Series A round

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Taiwan-based live broadcasting platform New Entertainment has raised $25 million in Series A funding led by Chinese video streaming app Inke.

Chinese mobile social games developer FunPlus, GSR Ventures and Mayfield also participated in the round. The company will use the capital to support its newly-launched live streaming service MeMe.

Next Entertainment was created by Andy Zhong, who is also co-founder of FunPlus. Its flagship product MeMe enables mobile app users to stream and make money from online broadcasting. Viewers can interact with performers and other viewers in order to build up a network of followers. The service went live in Taiwan two months ago, and will launch in other markets next year.

GSR previously invested in FunPlus and Inke. As part of the funding agreement, Next Entertainment plans to leverage Inke's experience in live streaming to deliver more customized and interactive services to global users.

"We're excited about live streaming as a form," Zhong said in a release. "By building ways for content creators to engage and interact with their fans in real time and to earn money doing it, Inke has changed people's lives. We're going to expand that globally."

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