Insta360

Insta360 is a panoramic camera company founded in 2015 by Liu Jingkang, who remains its leader and has become one of China's youngest heads of a company with hundred-billion-RMB market value . The company built its early breakthrough on combining the Pearl River Delta's consumer-electronics manufacturing muscle with algorithmic stitching technology, producing the Nano—then the world's smallest 360° panoramic camera, which could be used standalone or plugged into a phone . It later became the first panoramic camera brand to enter Apple's physical retail stores globally .

IDG Capital was its earliest backer, investing a few million RMB in 2015 when Liu had no revenue, team, or product, and later added to its position in the Series A; by the time of Insta360's IPO, IDG held over 13% and was the largest outside shareholder . Xunlei and Qiming Venture Partners also held significant stakes pre-IPO at 8.7% and 9.4% respectively .

The company positioned itself to challenge GoPro in the action-camera category , and by 2022 had reached annual revenue exceeding RMB 2 billion . Its product evolution—from entry-level devices like the Insta360 ONE through successive iterations improving image quality, stability, and AI-powered editing—has been cited as a case study in gradual, demand-driven premiumization .