The round was led by China state-owned entity Zhongshoujian and included a $9m contribution from Qihoo 360.

Spotify is in advanced talks to acquire SoundCloud, which was reported to be talking to Twitter about a sale until the social media company withdrew from negotiations in 2014.

Live video streaming service Panda TV has received $54m in a LeCloud-led series A round that valued it at $360m.

The internet company is said to be planning an investment unit that will back content producers, though it is not clear whether it will be separate from a reported $200m fund.

CAA and Hearst were among the investors in a $12m round for DRL, which has struck deals for its 2016 season with ESPN, Sky and ProSiebenSat.1.

Entertainment company Huayi Brothers will begin investing in content-focused startups through a new investment arm from the end of this month.

Kenneth Bronfin and Scott English will lead Hearst's corporate venturing unit, with Gil Canaani coming in to head its Israeli investment team.

The company database and news app operator, backed by GMO, Yahoo Japan, Itochu and Kodansha, will float in its home country of Japan next month.