Short-video making platform Laihua Digital Co., Ltd has raised an undisclosed Series B2 round of funding led by a Shanghai-based venture capital firm Puwei Capital, according to a company statement on Wednesday.
Established in 2015, Laihua, managed by Shenzhen Qianhai Shouhui Technology, offers materials for curating creative video clips. In partnership with state-backed voice recognition giant iFlytek, it has developed an AI solution to manage efficiency.
Its solutions are largely used in education & training, finance & technology, healthcare, media, and advertisement. Its portfolio of clients includes Microsoft, Baidu, Huawei, Tencent, JD.COM, Ping An, Wanke, among others.
Headquartered in Shenzhen, Laihua has also set up offices in nine cities such as Beijing, Shanghai, Chengdu and Wuhan.
Laihua will continue to innovate the platform and introduce copyright content.
The platform has so far closed fundraising of more than 150 million yuan ($22 million) since 2016. Recently, in 2018, it had garnered 60 million yuan ($8.6 million) from HK-listed video group V1 Group Limited, New Value Capital and Toutou Shidao Investment Fund.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 11, 2020.
Topping the list is Neolix Technology, a Beijing-based intelligent automotive driving company that has garnered 200 million yuan ($29 million) in a new round funding led by CHJ Automotive.
