China-based video content producer Yinhekuyu Media has raised a RMB200m ($29.4m) series B round featuring Youku Tudou, an online video platform owned by e-commerce company Alibaba, China Money Network reported on Wednesday.
The round was led by Yunfeng Capital, the private equity firm established by Alibaba founder and chairman Jack Ma, and included angel investment vehicle Hong Tai Fund.
Founded in 2015, Yinhekuyu produces short videos, films and televisual dramas for viewing online. The funding will support development of a third series of Mars Intelligence Agency, the Chinese entertainment show it first produced in 2016 in collaboration with Youku Tudou.
Mars Intelligence Agency has reportedly generated millions of renminbi in advertising revenue in the past year, and has received more than a billion views.
Yinhekuyu plans to work with Alibaba Pictures Group, the film production company known as ChinaVision Media until Alibaba acquired a majority stake in 2014. It will also partner Alibaba e-commerce subsidiary Taobao on a TV shopping show.
Yinhekuyu Media previously raised an eight-figure renminbi sum in a series A round that included Youku Tudou and online education and mobile gaming company Talkweb Information System, according to China Money Network.