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Kunlun Fight raises around 10 million dollar in B+ round

Friday, 05 May 2017 14:49   |   By Nong Ruowen

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Recently, Kunlun Fight has raised around 10 million dollar in their B+ round, as reported by Tencent Startup, a website owned by Tencent.

In this round, Kunlun Fight’s lead investors are Yirun Invest Management Co. Ltd., and Qianhai Mergers & Acquisitions Funds. These are followed by Morningside Venture Capital and Northern Light Venture Capital, which also invested in Kunlun Fight during the B round. So far, Kunlun Fight has gone through 5 rounds of financing. Before this round, Kunlun Fight was valued at 500 million dollars.

Kunlun Fight, also known as Kunlunjue in Chinese, is a startup Chinese combat-sports programme which was created by Kunsun Media in 2013. Since its debut in January, 2014, Kunlun Fight has so far held 40 world-class fights both in China and around the world, featuring kickboxing, MMA, Muay Thai and Chinese Wushu.

According to Tencent Startup, Kunlun Fight’s revenue reached over 200 million Yuan last year, but they didn’t make a profit. This year, their revenue is estimated to increase by 40%-50%, which will mean they are now in the black.

Although Kunlun Fight has accomplished this round of financing, Jiang Hua, Founder of Kunlun Fight and CEO of Kunsun Media, revealed that they will raise more money in the next round at the end of this year.

Source: TencentStartup

Proofread by Sean O Diobhilin

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