Koolanoo Raises $25 Million

Koolanoo Group, a Chinese Internet and new media investment firm, has raised $25 million in new VC funding. An undisclosed investor led the round, and was joined by return backer Giza Venture Capital.

PRESS RELEASE

Koolanoo Group has successfully closed a $25M round of financing. This is the company's third financing round, and was led by a new investor in the company, an international investment group. The company's existing investor, Giza Venture Capital, also participated in the financing round. Giza said that it is, “very proud of the achievement and success of Koolanoo Group in China.”

Koolanoo Group is a China Internet and New Media investment firm headquartered in Beijing. The company owns and operates large web properties in China. The group is proprietor of 360Quan, China's leading teen social network; and iQ: The Smart Browser, a new Chinese Internet browser. The Koolanoo Group owns the brand “360Q”, as well as client-based systems under their brand “iQ:Smarter”.

The company plans to use the capital to continue expansion of its strategic operations in China. This will include new media ventures such as the launch of iQmail as well 360TV.

For more information, go to www.koolanoogroup.com .