HappyCast, a China-based screen sharing tool developer backed by mobile device maker Xiaomi, has received an eight-digit yuan amount (RMB10m = $1.6m) from venture capital firm Shenzhen Capital Group, 36Kr has reported.
Founded in 2013, HappyCast has developed screen projection technology used in home entertainment and business meeting settings. It can also be applied for online education, mobile game projection and video conferences.
The funding forms part of the company’s series B round, and the proceeds will go to hiring research and development professionals, boosting market expansion and purchasing video-related hardware such as servers.
Shenzhen Capital had already backed a series B tranche sized at tens of millions of yuan in 2020 for HappyCast, following a pre-series B round of similar size from Xiaomi subsidiary Xiaomi Ventures and Longrun Asset the year before.
Qianhai FOF and T-Rex Capital led a series A-plus round of undisclosed size for the company in 2017 that also featured Bojiang Capital, a vehicle for financial services firm Bojiang, and Ren Capital.
The series A-plus round came a year after RMB25m ($3.8m at contemporary rates) in series A funding from GSR United Capital. HappyCast’s earliest funding was an angel round of undisclosed size in 2015 from Tamarace.
