Chinese camera maker Insta360 gets $30m

MG Holdings and Huajin Capital also contributed. The capital will be used for technology development, a domestic marketing drive, and global after-sale service improvements.

“Insta360 has a rare ability to take cutting-edge imaging tech and put it into products that consumers want to use today,” Gavin Li, a senior director at Huajin, said in a statement.  “They’re moving faster and innovating more than their competitors, and they’re taking bold new approaches to the defining communication tool of our time: the camera.”

Founded in 2014, Insta360 positions itself as the leading manufacturer of 360-degree cameras globally with a focus on sleek and intuitive design. The company claims its revenues have increased fivefold since 2017, when it began marketing action cameras, a class of rugged, continuously recording cameras typically used in sporting and real estate applications.

Insta360 also makes virtual reality cameras that can be plugged into a smart phone. The company’s Insta360 Pro model can be mounted on the top of a car and features real-time video capabilities in 360 degrees as well as 3D imaging, live streaming, picture stabilization, and post-production tools. It is the first certified camera of Google Street View.

Chinese electronics retailer Suning made an investment of undisclosed size in the company in 2016. IDG Capital Partners provided an angel round in 2015 and an $8 million Series A the following year with support from Qiming Venture Partners. IDG and Qiming returned for a Series B round of undisclosed size in 2016 alongside FreesFund and diversified technology developer Xunlei.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Consumer
• Technology
• Expansion
• China
• manufacturing