Google backs Chinese mobile game streaming platform
Google has participated in a Series D round of funding for Chushou, a Chinese mobile game live streaming platform. The investment takes the company’s total funding to more than $120 million.
Existing backers Qiming Venture Partners, Shunwei Capital, and Alpha X Capital also took part in the round. According to AVCJ Research, Chushou previously received RMB400 million ($57 million) in 2016 in a round co-led by Shunwei and GGV Capital, with additional contributions from Qiming and Alpha X. The new capital will go towards global expansion.
Founded in 2015, Chushou is popular among e-sports fans who use the platform to share their mobile game experiences. The company has accumulated more than eight million unique streamers, with an average 250,000 individuals using the site every day. In addition, over 90 million registered viewers watch this content, which covers in excess of 1,000 popular games.
“Chushou has built an impressive platform, with a dedicated and quickly growing base of content creators and consumers, and smart expansion plans,” said Frank Lin, principal for corporate development for Google in North Asia, in a statement. “We’re excited to be supporting Chushou through this investment to help them execute those plans, bringing great mobile gaming content to more people around the world.”
Google’s previous investments in China include participation in a Series C round for Mobvoi, a voice-activated mobile search services provider, in October 2015. Last year, the company received $180 million from Volkswagen’s China unit as part of a collaborative effort to develop artificial intelligence-related applications to advance smart transportation innovations such as autonomous driving.
The Mobvoi deal represented Google’s first direct investment in a Chinese business since the US-based company abandoned its domestic search engine service in China in 2010 over censorship concerns. However, in December of last year, Google launched an artificial intelligence research facility in China with a view to tapping into deep learning breakthroughs taking place in the country.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.