Chinese GoPro Competitor Insta360 Targets an IPO by 2020
- Sport camera maker raises $30 million for global expansion
- Insta360 is backed by IDG, Suning, Qiming Venture Partners
An Insta360 Pro 2 camera is displayed during CES 2019 at the Las Vegas Convention Center.
Photographer: Justin Sullivan/Getty ImagesInsta360, the GoPro-rival that won awards at the world’s biggest electronics show in 2018, is considering a domestic initial public offering as soon as next year.
The Shenzhen-based maker of 360-degree cameras and virtual reality devices has raised $30 million from investors including Everest Venture Capital, MG Holdings and Huajin Capital, founder Liu Jingkang said. It now plans to deepen research while expanding overseas, he said in a phone interview. Longer term, the startup is pondering a listing but hasn’t made a final decision on venue, which could include China’s upcoming technology board or the existing Growth Enterprises Board in Shenzhen, the founder said.