Chinese video sharing site 56.com has closed a $10 million financing round from Disney’s funding arm Steamboat Ventures and SIG, according to Alarm Clock (via Redline China). The two-year-old company plans to use the funding to buildup its hardware, add new features to the site and ramp up promotional efforts. Steamboat’s Asian activity has been increasing. At the end of May, Steamboat provided $5 million to Chinese in-stream video ad network CTS Media as part of its $8 million second round and earlier was part of a $23.5 million round for P2P video site UUSee.