China Digest: Meridian Capital, Tencent invest $15m in Baobao; Banyan Capital, New Horizon pump $110m in Pinduoduo

Visual from Pinduoduo website

In two separate funding deals in China, digital video streaming social media platform Baobao raised $15 million backed by Meridian Capital China, Tencent Holdings Ltd and other investors, while e-commerce platform Pinduoduo received $110 million financing from Banyan Capital, and New Horizon, the China Money Network reported.

Meridian Capital, Tencent close $15M Series B+ Round in live video streaming app Baobao

Baobao, a digital video streaming social media platform, secured $15 million (RMB100 million) in a series B+ round joined in by Meridian Capital China, Tencent Holdings Ltd, GGV Capital and Shunwei Capital.

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