Sina Tech, 4/04/14
According to a financial industry source, Chinese internet company Xunlei has landed USD 310 mln in Series E funding led by Beijing-based Android device maker Xiaomi with a USD 200 mln investment. Venture capital firms IDG Capital Partners and Morningside Ventures combined to invest USD 20 mln in the current round of funding. Chinese internet company Kingsoft's (3888.HK) recently announced USD 90 mln investment to take a 10% stake in Xunlei was reportedly made as part of the latest round of funding.
Compared to previous venture capital investments, the current round of funding has been categorized by Xunlei as strategic investment, as the company seeks a broader level of cooperation with leading investors Xiaomi and Kingsoft.
Editor's Note: For more information on this topic, please see "Kingsoft to Acquire 10% Stake in Xunlei," MD 4/02/14 and "Rumor: Xunlei Wins USD 25 Mln Xiaomi Funding, Prepares for US IPO," MD 2/26/14 issues.