Intelligent camera developer Insta360 raises tens of millions of US dollars in Series D round

Intelligent camera developer Insta360 announced that it has completedSeries D financing round, raising tens of millions of US dollars. Investors include CITIC Securities, Jinshi Capital, China Merchants China Direct Investments, Co-stone Capital and Lide Capital.

Intelligent camera developer Insta360 announced that it has completedSeries D financing round, raising tens of millions of US dollars. Investors include CITIC Securities, Jinshi Capital, China Merchants China Direct Investments, Co-stone Capital and Lide Capital.

Founder Liu Jingkang said that the proceeds will mainly be used to increase investment in research and development of imaging, AI, mechanical automation technology, further expand the sports camera product line, ramp up investment in upstream and downstream industry chains, and at the same time strengthen the reserves of the art professional talent.

Previously, Insta360 had successively received investment from IDG Capital, Qiming Venture Capital, Thunder, Suning Group, Magnet Fund, and Huafa Group’s investment platform and other institutions. Liu Jingkang revealed that the overall secondary market is currently sluggish, and the IPO plan still depends on changes in the secondary market before making a decision.

Insta360 was founded in 2015. At the beginning of its inception, the company focused on the sales of VR and panoramic cameras. It entered the sports camera market in 2017.

The company currently covers two product lines, consumer and professional. Its product types include new cameras (360 panoramic cameras, 3D panoramic cameras), sports cameras, mobile phone attachments, etc., the application fields cover various scenarios such as tourism, entertainment, news, live broadcast, sports events, real estate and more.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/26/intelligent-camera-developer-insta360-raises-tens-of-millions-of-us-dollars-in-series-d-round/.

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