SHANGHAI, April 12, 2016 /PRNewswire/ -- Mobile app developer Holaverse recently completed a new round of fundraising, bringing in $70 million to expand and strengthen its team, product development, and global expansion. The round was led by ADDOR Capital, supported by Qihu360, Yi Capital and other institutional investors with Winsoul Capital as the exclusive financial adviser.
Holaverse entered the international market in late 2014 with its Android apps Hola Launcher and Omni Swipe, which have since accumulated over 460 million downloads and activations. Reuters reported: "Hola Launcher has rich and powerful features, delivering a smooth, aesthetically-pleasing and easy-to-navigate user experience to Android users".
Consequently, Holaverse has regularly appeared in among the top 10 worldwide Android developers lists, alongside Facebook, Google and Cheetah Mobile. Within 9 months, the company was the subject of case studies featured on Google and Facebook's official websites, becoming the fastest "Chinese" internet brand to receive such a level of recognition by the two giants.
CEO Brian Xie of Holaverse said of the investment: "The $70 million provided by ADDOR and the other investors will help Holaverse to continue attracting and retaining talent from around the world, pursue new heights for our existing products, and strengthen our forays into mobile gaming and social platforms in line with our mission of becoming a leading mobile internet platform worldwide."
On the decision to back Holaverse, ADDOR Capital considers its investment in Holaverse key to creating a footprint for itself in the international mobile internet market. Partner Huang Tao said: "In China's domestic internet market, the high level of overlap between the 'BAT' triumvirate of Baidu, Alibaba, and Tencent has resulted in cutthroat competition limiting opportunities for meaningful growth. In contrast, there remains considerable demand in the international market, but seeking to cater to this market requires courage and real strength, which is precisely why ADDOR Capital is investing in Holaverse. We admire Holaverse's drive to explore and go forward into the unknown, as well as its streamlined product philosophy, R&D efficiency, and exceptional execution."
Vivian Chen, Founding Managing Partner of Yi Capital, also believes there are untapped investment opportunities in the global mobile internet market, commenting: "After 5 years of rapid expansion, both the growth in the Chinese smartphone market and the competitive landscape of Android mobile apps have entered a relatively stable stage. However, in many parts of the world, especially in developing countries in Asia, Africa, and Latin America, there are vast populations with a growing hunger for smartphones and thus huge growth potential for the mobile internet market. With its rich experience in mobile internet market internationalization and globalization, Holaverse has accumulated a vast user base and gained a leading position in the mobile application sector among a large number of world-class Chinese companies. Yi Capital has great expectations for the future performance of Holaverse."
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