Chinese esports company VSPN on Tuesday announced the completion of a multi-million dollar Series B2 financing round, led by Morgan Stanley Private Equity Asia (MSPEA). The funding will be directed towards the firm's global business expansion and the development of its esports content matrix, the VSPN+.
In last week’s news, Chinese computer vision startup Clobotics secured roughly $31 million in funding to be used for research and development, prominent VC firm Source Code Capital raised $1 billion in capital commitments and online grocery company Dingdong Maicai raked in over $700 million from regional expansion.
During the first month of 2021, China’s esports industry witnessed noteworthy investments and developments. Here are the top stories of the final week of January 2021.
Chinese esports production company Versus Programming Network (VSPN) announced today that it has raised close to $100M USD in a Series B funding round, led by Chinese conglomerate Tencent Holdings.
iSpace raised nearly 1.2 billion yuan ($172 million), setting a new record for a single round of funding in China's commercial space field.
On July 27, the Chinese subsidiary of the world’s largest co-working space operator, Wework China, announced that it has completed Series B financing of $500 million. Lead investors include TrustBridge Partners, Temasek Holdings, SoftBank Group Corp. and its Vision Fund as well as Hony Capital.