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Chinese online entertainment service iQIYI fetches Series A funding

iQIYI Inc, an online entertainment service in China, has closed its Series A funding round, raising a total of RMB 850 million (about $124 million). The investors were China Sports Capital, a joint venture between CMC Capital Partners and Sequoia Capital; Yao Capital; IDG Capital; and Hui Ying Bo Run.

Source: Press Release