Shanghai-based ImbaTV, a live video broadcast platform focused on competitive video gaming, has completed RMB100 million (US$16 million) series B round of financing led by Chinese private equity firm Addor Capital, according to Chinese media reports.
Prometheus Capital, an investment fund managed by the son of Dalian Wanda Group’s chairman Wang Jianlin, also participated in the round.
Founded in 2014, ImbaTV received around one million U.S. dollar series A funding from Innovation Works and Sequoia Capital one month after its establishment last July.
The company says it will use the proceeds on expanding its video programs, monetization and organizing more international eSports games.
Prometheus Capital, managed by Wang Sicong, has previously invested in mobile gaming firm Forgame Holdings, as well as LeTV Sports, Chinese dental chain Arrail Dental, data analytics firm Palantir Technologies, restaurant chain Hannashan Korean BBQ, and U.S. mobile phone browser developer MoboTap Inc.