Chinese square dancing app Tangdou has raised around $70 million Series C funding led by Tencent, IDG Capital, GGV and Shunwei Capital.
The silver economy video app completed $30 million funding in January 2017 from investors such as Shunwei and IDG.
It is probably the biggest entertainment fundraising aimed at the elderly and Tencent’s participation has drawn attention to China's huge ageing population.
The size of the sector that targets older members of society is expected to reach $744 billion by 2020, according to Hong Kong-listed firm CCID Consulting. The market value is calculated on everything from nursing homes and wearable...