M17 receives NT$900 million in 4th round of funding

17 Media team (Photo courtesy of 17 Media)

TAIPEI (The China Post/ANN) — M17 on Monday announced the completion of its 4th round of funding, obtaining around US$30 million (NT$900 million) from Vertex Growth Fund, Stonebridge Korea Unicorn Venture Fund, Innoven Capital, KAGA ELECTRONICS and ASE Global Group.

According to Chinese-language media, the newest round of funds is intended to be used mainly in broadening markets in Taiwan, Japan and the U.S. 

As the COVID-19 pandemic sweeps across the world, M17 has seen an influx of customers and broadcasters, either looking for new and entertaining content online or searching for a new source of income while businesses remain shut in some areas.

Ukrainian software engineer Kate also sought refuge at 17 Media during the pandemic (Photo courtesy of 17 Media)

With a vision to “empower artists” and “entertain the world,” co-founder and CEO Pan Chieh-hsien has expressed hope that 17 Media would be able to create a virtual platform to combine talents from around the world.

Founded in 2015, 17 Media, a mobile application that offers live video streaming and real-time content sharing services, currently has over 60 percent market share in Japan and Taiwan, making it Asia’s biggest live streaming platform.