Magilm Pictures raises 60m yuan in funding

Magilm Pictures, a company that was launched with focus on film marketing, has received more than 60 million yuan in its second round of financing recently, according to sina.com.

The capital will mainly be put to use for expansion, including investment in theaters, filmmaking, marketing and distribution business.

The company has also formed a strategic investment partnership with one of the leading investors - Tianxing Capital.

Established in 2009, Magilm Pictures provided services to more than 100 movies within three years of its launch. The accumulated box office revenue of these films has exceeded 5 billion yuan. Its market valuation stands at more than 300 million yuan.

In August, Magilm Pictures received its first round of fund from Shenzhen Co-Win Venture Capital Investments Ltd.

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