Singapore-based social media entertainment company Migme has received A$10m ($7.6m) in funding from investors including corporates Meitu, Foxconn and MNC, The Australian reported today.
Migme, which is listed in Australia, provides a suite of apps including an eponymous social networking and entertainment platform, couples communication app LoveByte, artist fan community Alivenotdead and online auction platform Sold.
Photo and media app operator Meitu invested about $1.5m, according to Migme CEO Stephen Goh, while, manufacturing services provider Foxconn, media company MNC and angel investor Malcolm Steinberg provided $3.4m and undisclosed “sophisticated” investors a further $2.8m.
FIH Mobile, a subsidiary of Foxconn, reportedly paid an undisclosed amount for a 19.9% stake in Migme in 2014, before Meitu invested $5.2m in the company in March this year in the form of a private placement, giving it a share worth just under 5%.