Beijing-based animation content production firm Tuzi Culture has completed RMB 8-digit Series A funding from Chinese internet and mobile services firm Tencent (0700.HK). Tuzi will use this round of funding primarily to improve the production capacity and quality of its original cartoons and expand its related businesses.
Established in June 2009, Tuzi Culture focuses on animated content creation and the development and licensing of related derivative products. The company has launched more than ten highly popular cartoons in addition to forming deep partnerships with production companies such as Flower Film & TV Culture, Enlight Pictures, Tencent Comic, and Kunlun Film. Tuzi Culture has amassed nearly 7 mln followers on Chinese microblogging platform Weibo (Nasdaq: WB).
Tuzi Culture has reportedly partnered with Tencent Interactive Entertainment and Tencent Video to adapt comics into cartoons, live-action films, and mobile games. For any given project, Tuzi Culture will make contributions towards the animation, live-action script creation, set up, and game production.
Currently, Tuzi Culture has signed contracts with close to 50 cartoonists and screenwriters, and is working to establish an animated short video department and cartoon production division.
Tuzi Culture primarily generates revenue through adaptation rights, spin-off rights, social media platforms, and advertising. The company's adaptation rights profit model includes one-off licensing, copyright sharing, investment, and joint investment.
Tuzi Culture previously secured RMB 14 mln in angel funding from Kunlun Technology in September 2016.