China’s internet giant LeEco announced Tuesday that the company has secured $600 million USD of funding from a dozen of local investors.

The funding comes at a time when it’s most needed while public concerns on the grand vision of the company widens after the firm’s billionaire founder Jia Yueting acknowledged in an internal letter that LeEco is facing a cash crunch as it’s expanding too quickly into a group of fledging businesses from smartphone, car, television and sports media.

The investors of this round come from a variety of industries, including menswear maker Hailan Group, furniture company Man Wah Holdings, pharmaceutical firm Luye Group, medical equipment firm Yuwell Group and real estate company Yihua Group.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.