Media group PCCW's online video spinout has received funding from Foxconn's corporate venturing unit as well as Hony Capital and Temasek.
PCCW OTT, a China-based operator of music and video streaming platforms, raised $110m yesterday from investors including Foxconn Ventures, the investment subsidiary of contract electronics manufacturer Foxconn.
The round also included Hony Capital, the private equity firm backed by conglomerate Legend Holdings, and Singapore state-owned investment firm Temasek. The three investors will hold a stake in the company worth approximately 18% between them.
PCCW OTT was launched by mass media corporation PCCW through its entertainment unit PCCW Media, which retains…
