Baidu Video, the video search and content discovery spinoff formed by internet group Baidu, has secured $100m in a series B round led by its parent company, Sina Technology reported today.
Jadex Capital, Houze Ruyi and Gfund Management also participated in the round, which comes after Baidu Video raised $155m in an April 2016 series A round led by film production company Shanghai New Culture Media Group and backed by SAIF Partners.
Baidu Video operates an online platform that provides users with video search and content aggregation options and creators of professional video content with means of distribution.
The platform has partnership deals in place with a range of online streaming platforms and media companies, and provides about 70 million monthly active users with access to some 800 million videos, according to Sina.
The funding will support the generation and sourcing of original content, as well as the further development of technologies such as artificial intelligence. Yikai Capital was financial adviser for the round.