China's GoPro seeks capital in tough market

As tech devices search for a new growth point, Insta360, China's answer to GoPro, has just raised $30 million to expand its hardware business.

It is still debatable whether manufacturing tech devices is a profitable business in the long term. But some hardware retailers are expanding their business and product lines to find new momentum in an old market.

Chinese camera manufacturer Insta360 has just raised $30 million in follow-on Series C funding. Some investors, at least, are confident of growth in a niche hardware market.

Everest Venture Capital, MG Holdings and Huajin Capital are the investors of this round. Before this, Insta360 raised at least $20 million from investors including IDG Capital, Qiming Venture Partners, home appliance retailer Suning and Nasdaq-listed Xunlei.

Insta360 - China's answer...

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