AAA Yuedongquan trains for $14m series C

Yuedongquan trains for $14m series C

China-based personal fitness app producer Yuedongquan has raised RMB100m ($14.5m) from a consortium led by Nokia Growth Partners, the early-stage corporate venturing arm of technology company Nokia, according to China Money Network.

Smartphone manufacturer Xiaomi was also among the participants in the round, according to local media reports.

Incorporated in 2014, Yuedongquan has created a mobile app that provides a pedometer function, tracking the distance that users run and integrating with smart fitness devices such as treadmills to record additional data.

The company claims to have clocked more than 2 million downloads of its app to date. It will use the money to promote its offering and drive expansion efforts.

Yuedongquan previously received $14m in series B capital from private equity fund Co-Energy Finance in 2015, following $7m in series A funding supplied  by internet company Tencent and venture capital firm Green Pine Capital Partners earlier the same year.

In 2014, the company received several million renminbi in angel funding from undisclosed investors.

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