Funstory.ai raises tens of millions of yuan in Series A+

Funstory.ai recently announced the completion of its Series A+ round of financing worth tens of millions of yuan, which was invested by NBT Capital.
At the end of last year, Funstory.ai had already received tens of millions of yuan in its Series A, from investors including xxs8.com, Ximalaya and Legend Star.

Funstory.ai recently announced the completion of its Series A+ round of financing, worth tens of millions of yuan, which was invested by NBT Capital. At the end of last year, funstory.ai had already received tens of millions of yuan in its Series A from investors including xxs8.com, Ximalaya and Legend Star.

It is said that these two rounds of financing will be primarily used for iterating the company’s AI translation technology, promoting customized writing plans for internet writers, as well as, scale development of internet literature translation.

Funstory.ai, established in November 2017, is an open platform that exports Chinese internet literature to other countries by providing AI solutions.

Its founding team members belong to companies like Microsoft, Google, Amazon, Baidu, and Yeeyan.

In August 2018, funstory.ai received several million yuan in its angel round of financing, and 10 million yuan in the Pre-A round, in 2019. The investment was led by WiFi Master and xxs8.com, and followed by Legend Star.

Currently, there are more than 50 mainstream internet literature websites in China, including xxs8.com, zhangyue.com, zhwenxue.com, motie.com, and cmread.com, that have settled on the open platform of funstory.ai.

Seven out of ten of the largest companies in China’s internet literature industry have adopted funstory.ai’s export solutions.

Besides, funstory.ai has approximately 50 channels to publish its translated works, including Kindle, Google Books, Apple Books, Kobo, and Barnes & Noble Bookstore.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/09/05/funstory-ai-raises-tens-of-millions-of-yuan-in-series-a/.

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