Camera360, a Chengdu, China-based mobile camera app, raised US$18m in Series B financing.
The round was led by SIG (Susquehanna International Group) China, with participation from existing investors Gobi Partners and Matrix Partners.
Camera360 intends to use the funds for new product development and expasion of the management team capabilities. According to a note, monetization will become a strategic focus for the company, which is confident to build a sustainable business through premium service offerings, strategic partnerships, and limited advertising techniques.
Led by Hao Xu, CEO, Camera360 provides a photo application for iPhone and Android devices, with over 150 million users, nearly half outside of China.
It is owned by Chengdu Pinguo Technology Co., Ltd., which also launched Movie360, a video recording application, and cloud.camera360.com, a cloud-based service platform that allows users to upload, manage, and share photos and other multimedia, and an audio camera application.