China-based Insta360, a 360-degree cameras manufacturer, has raised $30 million in funding.
The company raised the capital from backers including Everest Venture Capital, MG Holdings and Huajin Capital.
Insta360 intends to use part of the money raised for research and development with a particular focus on bringing more advanced artificial intelligence capabilities to its software and hardware.
The company, which aims to go public in 2020, plans to unveil a new hardware and software product this year.