APUS Group, a seven-month-old Chinese company that develops Android utility apps for the global market, has confirmed that it has raised $100 million in new funding. The company’s Series B round, word of which got out in China earlier this month, will be used to develop new services and grow its reach in global markets like the U.S., Brazil, India and Russia.
The round was led by Chengwei Capital, SIG and Qiming Venture Partners, with participation from existing investors Redpoint Ventures and Northern Light Venture. This new funding takes APUS — which is not yet monetizing its services — to $116 million in venture money so far.
Beijing-based APUS was founded in June 2014. It’s lead by Tao Li, a former VP with Chinese internet security/browser heavyweight Qihoo 360, and is a fascinating company.
Few startups raise this much money within their first year of operations, and fewer still are located in China, but fast growth is what APUS is all about. Its flagship product…
View original post 406 more words