China-based movie commentary provider Dushe has raised an undisclosed amount in a series A round led by publisher Bertelsmann’s regional investment arm Bertelsmann Asia Investments, China Money Network reported today.
Neowing Venture Capital and Yonghua Capital reportedly also participated in the round, the size of which has been estimated at up to $11m by China Money Network, with a company valuation of $45m.
Dushe, the name of which translates to ‘vicious tongue’, was founded in 2015 and creates original and controversial commentary tracks for films, distributing them over social media networks such as WeChat. The money will allow Dushe to develop a dedicated mobile app for its content.
Both Neowing and Yonghua were identified by China Money Network as existing shareholders, though details about their previous commitments have not been disclosed.
Dora Yi, investment director at Bertelsmann Asia Investments, said: “The Dushe team has unique understanding of the new digital media market and they are creative in their business models.”