China-based mobile app developer DotC United has raised $350m in a series B round led by entertainment company Zeus Entertainment, which transferred ownership of marketing subsidiary Avazu to DotC.
DotC, which was spun out of Avazu in 2015, now wholly owns it, while Zeus holds a 30.6% share of DotC through the deal. Shi Yi, Avazu’s co-founder and CEO, will retain control of DotC through the deal.
DotC has developed a range of mobile apps including Swift Wifi, which aims to speed up internet access while making sure a hotspot is safe, and Flash Emoji Keyboard, a customisable keyboard that supports more than 50 languages and lets users download a wide range of stickers.
The other participants in the round, which was closed in June this year but announced on Friday, have not been disclosed.
The series B funding will be used for advertising, app development and operation, and international expansion efforts, as DotC looks to focus on programmatic advertising as well as app development.
DotC received $45m in a July 2016 series A round featuring Bertelsmann Asia Investments, a corporate venturing subsidiary of media conglomerate Bertelsmann, and which included Banyan Capital, Chengwei Capital, Morningside Venture Capital and Lightspeed China Partners.