Hong Kong based mobile app developer DotC United raised RMB 300 million (US $45 million) from a cohort of Venture Capital firms including Banyan Capital, Chengwei Capital, Morningside Ventures, BAI and Lightspeed China Partners in a series A round of funding.
Launched by Avazu Holdings in mid-2015, the company plans to develop and launch more apps globally with the funding amount. It aims to provide a more secure, user experience, better mobile Apps for the global mobile Internet users.
It has developed several mobile applications including SwiftWiFi (WiFi sharing platform), Swift Locker (Application Lock), Swift Browser (mobile terminal browser), Flash Keyboard, etc. with more than 200 million users across the globe. These apps have gained wide-spread reach and found its footing amongst the top of the list including best apps on the Google Play Store.
DotC United, founder and CEO, Yi Shi quoted that,
With extensive experience in the capital sector, they will continue to provide users with excellent mobile apps and the strong finance support will help them to be world’s top app developer. The Chinese Internet companies have been trying to capture the global market, and DotC is ready to give a tough competition with the latest round.
DotC currently has a core team of 150 members who have jumped on-board from Baidu, Ali, Tencent, 360 and other domestic Internet companies. The close-knitted team has a very rich experience in application development and distribution.
Avazu Holdings, a multinational group was established in 2009 and currently owns four major business segments: Global distribution platforms Teebik, global advertising platform Avazu, global business platform aFund and global App developer DotC United. Reportedly it is valued at billions of dollars, and has hundreds of millions of dollars in cash flow.
Prior to DotC, Avazu had launched aFund and Teebik in 2014 before it was acquired by Shenzhen-listed Zeus Entertainment for RMB2.07 billion ($310 million).