Morning Star | Global smart-imaging leader Insta360 debuts on STAR Market

On June 11, Beijing time, Insta360, a Qiming Venture Partners portfolio company and global leader in intelligent imaging solutions, successfully listed on the STAR Market. Insta360 (688775.SH) priced its IPO at 47.27 yuan per share, opened at 182.00 yuan per share, surging 285% for a market cap of 72.982 billion yuan.

As an early investor in Insta360, Qiming Venture Partners accompanied the company through a decade-long journey. As early as 2015, Qiming Venture Partners led Insta360's Series B round, and continued to support the company's development in its Series C round.

Founded in 2015, Insta360 has remained focused on the R&D, production, and sales of intelligent imaging devices including panoramic cameras and action cameras. Its main product categories include consumer-grade intelligent imaging devices, professional-grade intelligent imaging devices, accessories, and other products. Building on panoramic technology as its foundation, the company has developed a technology system centered on panoramic technology, stabilization technology, AI imaging processing technology, and computational photography technology, with underlying key technologies that are original and advanced.

Through independent R&D and technological innovation, Insta360 continuously meets consumers' imaging needs across different scenarios and provides advanced intelligent imaging solutions for various industries, empowering sectors by serving multi-scenario applications. The company's "Insta360" brand products are sold through a combination of online and offline channels, with its offline network currently spanning over 60 countries and regions worldwide. According to Frost & Sullivan data, in 2023 the company's "Insta360" brand held a 67.2% global market share in panoramic cameras, ranking first; and ranked second globally in action cameras.

Duane Kuang (left), Founding Managing Partner of Qiming Venture Partners; JK (center), Founder and Chairman of Insta360; and Ted Yeung (right), Partner at Qiming Venture Partners

**JK, Founder and Chairman of Insta360, stated: "**In 2015, when Insta360 had only a demo, Qiming Venture Partners chose to invest in us. This reflected Qiming Venture Partners' profound insight and firm belief in 'technology changing the world' — their willingness to invest in 'non-consensus' technologies that are full of promise but not yet proven or commercialized by the market. Over the subsequent 10 years of partnership, Qiming Venture Partners has been not only an important financial partner but also provided assistance in corporate governance, supply chain management, company operations, and industry insights. Insta360's mission is 'to help people better record and share their lives.' With our IPO, we will continue to deepen our focus on the intelligent imaging field, continuously implement our technology innovation strategy, product planning strategy, and global brand strategy, and develop into a world-class intelligent imaging brand."

**Ted Yeung, Partner at Qiming Venture Partners, stated: "**When Qiming Venture Partners decided to invest in JK and Insta360 in early 2015, we focused on two main dimensions. On one hand, JK's exceptional original product thinking and technical capabilities; on the other hand, our firm belief that the 360-degree smart camera space held enormous market potential. Today Insta360 has grown into a leading enterprise in its global niche, and we believe the company has vast room for imagination in the convergence of imaging and AI technology, particularly in 3D imaging, spatial computing, and intelligent AI image generation. Ten years ago, Qiming Venture Partners firmly believed that hard tech was the true direction for bringing about industrial transformation, while also placing great trust in young entrepreneurs. Today, Qiming Venture Partners will continue to focus on and actively deploy in the hard tech space, with particular emphasis on entrepreneurial teams with original spirit, technical depth, and global vision. We also pay special attention to fields that have not yet formed broad consensus but have the potential to achieve disruptive breakthroughs."

Past Coverage

Qiming Stars | Insta360's Chen Yongqiang: Breaking Innovation Boundaries, Exploring New Forms and Models in Smart Manufacturing Qiming Perspectives | Ted Yeung of Qiming Venture Partners: Technology Innovation Leading the Wave of Industrial Transformation Qiming Headlines | Qiming Venture Partners and Portfolio Companies Win Multiple Awards Including ChinaVenture's 2024 Top 5 Best VC Firms

Qiming Venture Partners was founded in 2006. Currently, the firm manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, Qiming Venture Partners has focused on investing in outstanding early and growth-stage companies in Technology and Consumer (T&C), Healthcare, and other sectors.

To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means, with over 80 companies recognized as unicorns or super-unicorns in their industries.

Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), UBTECH (09880.HK), WeRide (NASDAQ:WRD), Insta360 (688775.SH), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ:ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ:SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), Berry Genomics (000710.SZ), Sinocelltech (688520.SH), Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, Biren Technology, and others.