Ximalaya, a China-based audio-streaming startup, has raised $11.5m in its series A round from backers including financial services provider Susquehanna International Group’s SIG China unit.
Venture capital firms Kleiner Perkins Caufield & Byers (KPCB) and Sierra Ventures invested alongside SIG China.
News of the funding emerged at the same time as reports that microblogging company Twitter is reportedly considering an acquisition of Ximalaya competitor SoundCloud, which has been valued at more than $700m. KPCB is also one of SoundCloud’s investors.