Children’s reading platform Ellabook receives USD 7.3 M for Series A
Founder: Ren Hui
Founded in: 2013
Financing status: RMB 50 million (USD 7.3 million) Series A round in 2017
Children’s reading platform Ellabook on Friday received USD 7.3 million for its Series A financing round for the research and development of “animation books”.
Ellabook is a children’s reading platform that mainly provides children from ages three to eight with “animation books”. These are e-books that can be read on digital gadgets such as smartphones and laptops. “Animation book” is an e-book which includes animation and interactive game features. Children can use the interactive features of the e-book through multi-touch screens and shaking of smartphones. Aside from providing children with interactive reading services, it also helps animation authors and publishers with the production and distribution of their animation e-books.
Launched in 2013 in Zhengzhou, the company does not produce content itself, but it works with original book suppliers to use their content. After working with the original content owners on copyright issues, Ellabook converts content from the original books into animation e-books based on its professional editing and dubbing team. So far, it has a collection of over 400 animation books, and it aims to expand to 1,000 by the end of 2017. It has more than 100,000 users reading its animation e-books. Users can either pay a monthly or yearly subscription to read all its animation books.
This Series A financing round was led by Tianming group, with Shengshang Capital participating as an investor. The company plans to use the fund to produce more animation e-books, as well as introduce new features to its animation e-books by investing more on technology.
Mobile live streaming platform Nonolive receives financing in tens of millions in USD
Founder: Su Zhenxiong
Founded in: 2016
Financing status: 2017 financing round amounting to hundreds of millions in RMB (tens of millions in USD)
Mobile live streaming platform Nonolive on Friday received financing in tens of millions in USD to expand its business to new countries.
Nonolive is a mobile live streaming platform that provides users with live video streaming services and a social network which is a good way to facilitate communication between live streaming anchors and the audience.
Users can start live streaming on Nonolive’s platform, as well as watch video streams of other users. In addition, users can interact with anchors by sending them virtual gifts, converse with anchors via texts and comments, and react to their videos by giving it “likes”.
First launched in Indonesia, Nonolive’s live video streaming platform ranks second based on user base and income in Indonesia. Its platform is available on iOS and Android app stores. The Internet network speed in Indonesia is not as fast as in China, so the company had to use a high level of adaptation and optimization based on overseas terminals and the Internet network environment. Moreover, it developed a beautiful algorithm for its live video streaming platform, which enables foreign users to start high definition live video streaming in a network environment with low bit rate.
This undisclosed financing was from We Capital, Alibaba, and Douyu TV which is a giant live video streaming platform in China. Currently, Nonolive’s development center is based in Guangzhou, and has set up local operation centers in Indonesia and Turkey. The capital will be used to expand its live video streaming services to new countries, and to invest more on the research and development of live streaming products, as well as create more video resources for users.
（Top photo from 58pic.com）