May 20, 2020

Xiaomi-backed Tongshifu funds $44mn in series B round led by Cathay Capital

2 min
Xiaomi-backed Tongshifu funds $44mn in series B round led by Cathay Capital

The China-based online copper crafts platform, Tongshifu, has announced that it has funded a RMB310mn ($44mn) series B round headed up by Cathay Capital, China Money Network reports.

It was revealed that GX Capital, Yunmu Capital and existing investors such as Shunwei Capital and Xiaomi Ventures took part in the round.

After being established in 2013, Tongshifu has operated under Hangzhour Xi Craftsman Cultural Creative and creates and designs original brass crafts, including gold-process, painting and clay sculpture.

Duan Lanchun, managing partner of Cathay Capital, said: “The pursuit of quality of life for China’s young generation is growing. The demand represented by the beautification of home environment is gradually increasing.”

See more:

“However, the high-quality home decoration brands are still scarce in the market, which is both a pain point for the industry and an opportunity for enterprises.”

It is anticipated that all funds raised from the round will be utilised in increasing production scale, cooperating with Xiaomi-affiliated companies to expand product lines, as well as enhancing internal management.

Cheng Tian, partner at Shunwei Capital, said: “Tongshifu solves the contradiction between design value added and mass production created by combining art and business, and has accumulated excellent reputation among users.”

In 2017, the firm raised RMB110mn ($16mn) in a series A round which was fronted by Shunwei Capital and Xiaomi Ventures.

Share article

Jul 24, 2021

Amobee Appoints Nick Brien As CEO

Elise Leise
2 min
Nick Brien, a CEO with a proven advertising track record, will help Amobee achieve digital growth

In its latest strategic move, Amobee—a global multimedia advertising leader—announced that Nick Brien will be its Chief Executive Officer. The company is entirely owned by Singtel, Asia’s leading communications technology organisation, which provides consumers with mobile, broadband, and TV and businesses with data hosting, cloud, network infrastructure, analytics, and cybersecurity tools. 

Brien, who has worked for Microsoft, Intel, P&G, and American Express, will take over to drive the next generation of advertising tech. Said Evangelos Simoudis, Chairman of the Board of Amobee: ‘Nick has the deep expertise in advertising that we need to seize the market opportunities ahead’. 

How Did Brien Get Here? 

Before joining Amobee, Brien led 15,000 people across 40 divisions as CEO of the Americas for Dentsu International. For thirty years, he’s helped brands pilot unique advertisements, keeping up with the latest trends. He’s served as CEO of McCann Worldgroup, global CEO of IPG Mediabrands, President of Hearst Marketing Services, and CEO of iCrossing. Over the course of his career, he’s consistently strategised how to keep up with digital shifts. Now, he’ll capitalise on Amobee’s legions of experienced data scientists and developers. 

‘I’m excited to be joining Amobee at such a transformative time in our industry’, Brien explained. ‘We’ll pilot advertising accountability and intelligent decisioning. And there’s no doubt in my mind that optimising media performance—whether you’re targeting, planning, buying, or delivering—can only be achieved using applied science, machine learning, and data analytics’. 

What Does This Mean for Amobee? 

Amobee is set on growing its personal brand within the advertising sector. As APAC social media influencers, Gen Z growth hackers, and viral content producers start to enter the field, established companies will be working doubly hard to keep up. Amobee, however, is still looking good. With a Gartner Magic Quadrant for Ad Tech, a Forrester New Wave recognition, and now, Nick Brien as CEO, the firm is set up for success. 

Share article