Pinguo Technology Raises $18M Series B From SIG Asia Investments

Headquartered in Chengdu, Sichuan province, Pinguo Technology says the company has completed series B financing of US$18 million.

SIG Asia Investments led the round. Existing investors Gobi Partners and Matrix Partners China also participated in the investment.

Founded in 2010, Pinguo Technology obtained angel investment of around several million Yuan from Matrix Partners in 2011. In 2021, Gobi Partners and Matrix Partners invested several million dollars in its series A round.

Pinguo Technology provides apps that offer digital image processing and smart recognition technologies. Its product Camera360 has over 100 million users around the world.

SIG’s China venture capital is based in Shanghai with a branch office in Beijing.

With over US$300 million under management, Gobi Partners manages five funds and has offices in mainland China, Hong Kong and Singapore.

Affiliated with U.S. venture firm Matrix Partners, Matrix Partners China was founded in 2008 and focuses exclusively on investments in China.