Y-Platform, a Chinese multi-channel video network, completed a $3.5m Series A funding round.
The round was led by Weibo, with participation from Kunlun Wanwei Technology. This brings to $5m the amount raised by the company since it was established.
The company intends to use the funds to upgrade the network’s content, expand e-commerce activity and enter markets outside of China.
Founded in 2017 in Beijing by Raz Gal-Or and also led by Amir Gal-Or, chairman. Fang Yedun, CEO, Zhang Ximan, Director of Operations with responsibility for e-commerce, and Liu Xiaoqi, Y-Platform is the most popular video channel network in China, with 70 million subscribers, 300 million monthly page views and more than 5 billion video views. Y-Platform’s content is broadcasted over Chinese video platforms including Weibo, Bilbili, Tiktok and WeChat, as well as on YouTube, Facebook and Instagram.
The company also operates a video content initiative intended to showcase the outside world to the Chinese public through the participation of 40 global cultural celebrities who are featured in video productions that focus on ten fields which include: culture, fashion, entrepreneurship, tourism, sports and entertainment, and has developed an advertising affiliate for e-commerce and marketing that transcends borders with the cooperation of more than 300 of the leading Chinese and global brands, including Google, General Electric, Huawei, Tencent, Alibaba, L’Oréal, McDonalds and others.
Y-Platform also produced several original video series that were broadcasted on Tencent Video (the Chinese equivalent of Netflix), popular video site Bilbili and CCTV, the largest TV network in China.