PE Daily, 8/17/17
Beijing-based Xintiao Time Technology, operator of mobile reading app Kuai Shuang, recently completed USD 7-digit Series A funding from Ventech China. Xintiao Time previously completed RMB 6 mln in angel funding from ZhenFund, Plum Ventures, and Beijing-based Autobot Capital.
Xintiao Time, established in June 2016, has released two main products to date, including Chuanyue Jun (Time Traveler), a romantic roleplaying game for young female users, and Kuai Shuang, an interactive reading app aimed mainly at users born in the mid-nineties or later.
Xin Mi, CEO of Xintiao Time, said that Kuai Shuang and Chuanyue Jun both aim to provide interactive entertainment content for younger users. Users and content creators can both derive income through the Kuai Shuang platform by publishing content on the platform. In the two weeks after the platform launched on July 21, it reached approximately 40,000 daily active users.
The Chuanyue Jun app features story themes including time travel, cities, fantasy, and schools. In addition to its gaming component, the app also has social functions such as friend circles and discussion forums that help to create a more immersive and interactive experience.