Suning Invests RMB 8-digit Sum in 360-degree Camera Maker 'Arashi Vision'
NetEase Tech, 8/23/16
Shenzhen-based 360-degree camera maker Arashi Vision recently announced completion of RMB 8-digit Series B+ funding from Chinese consumer electronics and home appliance retailer Suning Commerce Group (002024.SZ). As a strategic investor, Suning will partner with Arashi Vision on virtual reality (VR) product distribution and VR content.
1. In terms of VR product distribution, Arashi Vision's spherical video camera brand, Insta360, will be introduced to Suning's offline first- and second-tier city sales outlets, offline stores operated by its e-commerce platform Suning.com, Suning Youqu retail outlets (a smart hardware-focused retail chain recently launched by Suning), and Suning's online sales channels including Suning.com and its flagship store on Alibaba Group's (NYSE: BABA) B2C e-commerce site Tmall. Insta360 will also partner with Suning Hong Kong, Suning's affiliated Japanese home appliance store chain LaOX, and Suning's Silicon Valley research center.
2. In terms of VR content, Suning previously said at the 2016 China E-Commerce Conference held in Beijing at the end of May that it planned to establish 300 VR experience centers throughout China over the following three months, and that it would also set up a VR experience platform. Insta360 is expected to become an important supplier of content for Suning's VR projects, including both user-generated content and professionally generated content.
Insta360 also announced that it will make a live video broadcast software development kit (SDK) available to outside parties. Individual users can use Insta360's Nano app to produce VR panoramic live video streams and share them on social media. Insta360 will also enter into live broadcast technology partnerships with mainstream Chinese live broadcast platforms and will provide SDK access to let users produce Nano VR live broadcasts through partnering live broadcast platforms.
Insta360, established in September 2014, specializes in panoramic camera development. It currently offers two main panoramic camera products, the Insta360 4K beta and Nano VR. The Insta360 4K beta camera can take 4K panoramic video and still photos and is used in real estate, VR content production, travel, panoramic live broadcasting, wedding photography, and military and security applications. Nano VR is a camera plugin that enables an iPhone to film 360-degree panoramic VR live video. It supports travel, sports, and aerial filming scenarios.
Editor's Note: Chinese media reports of this news refer to the acquirer simply as "Suning Group," but do not specify whether the investment was made by Suning Commerce Group (002024.SZ), Suning Holdings Group, Suning Appliance Group, or another related company. In a phone conversation with Marbridge, Arashi was unable to confirm which party made the investment. For more information on Arashi, please see "Xunlei Leads Investment in 360-degree Camera Maker 'Arashi Vision'," MD 4/13/16 issue.
Keywords: virtual reality M&A hardware funding Suning Series B 002024.SZ VR content production UGC PGC Arashi Vision
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