Ferris Wheel Ticketing, the Chinese online ticket sales platform, has raised $15m (£11.8m/€13.4m) in a series B investment round led by venture capital firm Blue Lake Capital.
According to China Money Network, other investors include DCM Ventures, Matrix Partners China, Nanshan Capital, K2VC and Zhen Fund.
The company provides services to buyers and sellers of tickets of concerts, operas, dramas, musicals, dance and ballet shows and exhibitions in China.
Ferris Wheel Ticketing sells approximately 60,000 tickets per month, earning almost $4m, while also providing discount tickets and seat reservation services.
Through its fundraising, the firm is looking to add to its team, develop new products and improve marketing and brand building.
In 2016, the company received several million US dollars in a round lead by DCM Ventures.
The Chinese performing arts market saw an increase of five per cent in ticket sales year-on-year, according to research firm Analysys.
The performing arts sector has a low e-ticketing use rate in China compared to movie ticket sales – which has 75 per cent of the market – attracting investors and companies as an area of potential growth.
Image: Pixabay
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