VPhoto, a Chinese instant image sharing service platform, has raised RMB100 million (US$14 million) in a series B round of financing led by Fortune Caizhi Venture Capital and GF Xinde Investment Management.
Chinese private equity institution Tzitzit Asset also participated in this round.
VPhoto was founded in September 2015 to provide live photos and cloud video services for customers. The company developed a "fast image system", which the photographer can press the shutter at the scene and pass the photo to cloud immediately. Users can enjoy the professional time-sensitive image service experience by editing and sharing images in 5 minutes and 1 hour for video.
As of October 2019, VPhoto has served more than 100,000 corporate clients and signed more than 5,000 contract photographers and cloud retouchers. A total of more than 80 million photos have been viewed by 50 million users across 204 countries and regions.
"We are optimistic about the rapid development of the domestic and international imaging industry. The increasingly flat communication network has spawned various services and tools of PGC and UGC. VPhoto has unique competitive advantage in the scenarios of public relations meetings and performances," said Fu Zhonghong, partner of Fortune Caizhi Venture Capital.
The four-year-old company has raised a total of RMB200 million (US$28 million) through seven rounds of financing including the latest.
(This article is translated from China Renaissance. You can see the original article in Chinese here.)