Xunlei Receives $310M New Round Of Financing Led By Xiaomi

Shenzhen-based video service provider Xunlei Networking Technologies has completed new round of financing, raising a total of US$310 million, according to Chinese media reports.

Beijing-based mobile Internet company Xiaomi Inc. led the round, investing US$200 million. Beijing-based software company Kingsoft, existing investor Morningside Ventures and IDG Capital also participated, committing a total of US$110 million.

The investment values Xunlei at over US$900 million.

Previously, Xunlei completed five rounds of financing. They are several million U.S. dollars series A funding from IDG Capital in 2003, US$10 million series B funding from Morningside Ventures and IDG Capital in 2005, US$20 million series C funding led by Ceyuan Ventures in 2007, US$29.4 million series D funding from Rupert Murdoch in 2011, and US$50 million series E funding led by Primavera Capital in 2012.

Founded in 2003, Xunlei is a file sharing and video download service provider. It delivers solutions for broadband users to obtain multimedia content.

China Expert network