China-based news aggregator app developer Xiaozhi has closed RMB 200m ($32.3m) in funding from entertainment and media group Enlight Media and investment bank China Renaissance, China Money Network reported today.
Xiaozhi, which was founded in 2010, uses big data analysis to provide customised news feeds to individual users. Its app counts a total of 70 million users and 8 million active daily users.
Although Xiaozhi has not officially disclosed any funding, it reportedly secured angel funding from Li Qingtian, the co-founder of internet company Tencent.