China-based online ticket marketplace Ferris Wheel Ticketing has received $15m in series B funding from investors including Nanshan Capital, part of diversified conglomerate Nanshan Group, China Money Network reported yesterday.
Venture capital firm Blue Lake Capital led the round, which also featured DCM Ventures, Matrix Partners China, K2VC and Zhen Fund, according to local media reports.
Founded in 2015 and formerly known as Niumowang Ticketing, Ferris Wheel operates an online platform where users can buy and sell tickets for events such as gigs, musicals, plays or exhibitions.
The platform, which also connects users to ticket aggregators and wholesalers, is responsible for the sale of roughly 60,000 tickets per month with an overall value of about $4m. The series B capital will be used for product development, marketing and the expansion of the startup’s team.
Nanshan Capital, DCM Ventures and Matrix Partners China had previously provided $10m in series A and A+ funding for Ferris Wheel in November 2016, according to China Money Network.