IDG Capital Partners, IT data firm IDG’s corporate venturing unit, has invested $20m in Dewmobile, the China-based developer of file transfer application Zapya, Tech in Asia reported yesterday.
Dewmobile claims that Zapya, which works over wi-fi meaning no uploading or downloading is necessary, makes peer-to-peer file sharing easier than with Bluetooth or near field communication and more reliable than storing them in the cloud. Right now the technology is mostly used for social gaming.
The series B funding follows a series A round supported by Chinese venture capital firms Northern Light Venture Capital and Innovation Works. News of the invstement came the day after IDG Capital Partners announced it had closed a new $586m fund.