Chuangkit has bagged nearly $10 million in a Series A+ round of financing led by Kingsoft while TNL Media Group is raising $8 million in a new tranche of Series D round funding led by New York-based Palm Drive Capital.
Chuangkit raises nearly $10m in Series A+ round
Cloud-driven online design platform Chuangkit has bagged approximately $10 million in a Series A+ round of financing led by new investor Chinese office software giant Kingsoft Corporation, according to a company statement on Tuesday.
The fresh round also saw the participation of returning backer Gobi Partners China. Gobi had invested 30 million yuan ($4.3 million) in Chuangkit’s Series A+ round earlier in June 2019.
Chuangkit will use the proceeds towards business development, product research, marketing, and copyright management.
Chuangkit, a flagship brand of Beijing Yiyuanku Technology Co., Ltd, develops creative tools and materials for content curation. It supports individuals and enterprises to design digital content for marketing management. It claims to have served over 10,000 companies.
The company’s previous investors include internet-focused Atom Ventures, Telescope Investment, Zhongshan Ventures and Changrun Jinkong Investment Management.
Taipei-based TNL Media to raise $8m from Palm Drive Capital
Taiwan’s leading news media platform TNL Media Group, formerly known as The News Lens, is raising $8 million in a new tranche of Series D round funding led by New York-based venture capital and growth equity firm Palm Drive Capital, per a company statement.
Taipei-headquartered TNL Media, which has an office in Hong Kong, is an independent news media group covering the regions of Southeast Asia and Greater China. The bilingual language platform provides English and Chinese editions.
Earlier in March 2020, TNL Media acquired adtech startup AD2iction to consolidate its digital content for displays and mobile devices.
The fresh proceeds will be used to spruce up its content and expanding its presence.