China Digest: Mango TV secures $228m investment, LeVR closes $46m bridge round, Spring Rain closes pre-IPO round

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Mango TV has secured a $228 million investment, LeVR is raising a $46 million bridging round and Spring Rain has closed a $183 million pre-IPO round, with the aim of listing on the New Third Board in China.

Mango TV secures $228m investment

Mango TV, also known as Mangguo TV – the online video platform of Hunan Satellite TV, a unit of Hunan Broadcasting System – has completed a RMB1.5 billion ($228 million) new funding round with a post-money valuation of RMB13.5 billion ($2 billion), according to a report in Caixin Media.

Investors in the round are undisclosed but include several state-linked enterprises.

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