SIG Asia leads $18m round for China photo app Camera360
SIG Asia Investment (SAI), an affiliate of US financial group the Susquehanna International Group, has led a $18 million Series B round of funding for Camera360, a photo-editing mobile app. Existing backers Matrix Partners China and Gobi Partners also participated.
Xu Hao, CEO of Camera360, said the investors were attracted by the company's large user base and high volume digital image processing capabilities. Launched in 2010, Camera360, owned by Chengdu Pinguo Digital Entertainment, has more than 150 million users worldwide and processes over 50 million pictures per day.
The new capital injection will be used for R&D and product development. Matrix provided seed funding three years ago. Last year, Gobi Partners joined in a $5 million Series A round, with Matrix also participating.
SAI makes China private equity investments through its wholly foreign-owned enterprise (WFOE) based in Shanghai, with a branch office in Beijing.
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