A digital media and marketing startup, PressLogic, has raised a new investment round worth $10 million.
The startup, which was founded in 2016, is known for services including advertising, MediaLens and GirlStyle. MediaLens is an analytics software created by the Hong Kong-based company.
An aspect of the new investment will be used for the launch of the mobile app and website for GirlStyle, the company’s newest product, according to a statement.
“The UGC platform will enable users to post contents and comments within the female community,” Ryan Cheung, CEO and founder of PressLogic said, as reported by Deal Street Asia. “It empowers female to record every day of their life and everyone can share their feelings and comments in the same community.”
The new $10 million round comes from Xiamen-based Meitu, a mobile app company which was founded in 2008 and has a presence on a billion devices, so far. The company already owned a stake in PressLogic prior to this recent investment.
Another purpose for the new Series A round is the expansion of content by the startup on an international scale.
The company’s aim is to establish it’s product GirlStyle in Hong Kong, Taiwan, India, Singapore, Malaysia and Korea by end of 2018.
“PressLogic that we see and experience today has only reflected part of our future businesses,” Cheung said. “ We are very excited with the Series A+ investment, as it allows us to expand massively globally and grow to become the largest female lifestyle digital media & community player in Asia Pacific.”
(Picture courtesy: http://newtechage.site/)