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Camera maker Insta360 raises $30M as it eyes 2020 IPO

Rita Liao
Camera maker Insta360 raises $30M as it eyes 2020 IPO

Some of its past backers include IDG Capital, Qiming Ventures, home appliance maker Suning Holdings Group and file-sharing service Xunlei. The company started making 360-degree cameras -- thus the brand name -- in 2014 when founder Liu Jingkang saw a gap in the market for compact, easy-to-use cameras shooting high-definition 360-degree footage. Over the years it has evolved into a four-pronged business covering all sorts of needs: 360-degree cameras for professionals and amateur users creating virtual reality content, action cameras for sports lovers and smartphone accessories for average consumers.