Beijing-based entertainment company Danghong Qitian International Culture Development (Sky Limit Entertainment) recently announced completion of RMB 9-digit pre-Series A funding led by Shenzhen-based OCT Culture Group with participation by Mango Culture and Innovation Private Equity Fund.
Sky Limit Entertainment was established in 2015 and uses VR and AR technologies to create immersive social entertainment experiences combining content creation, IP operations, and "digital reality" entertainment. Its business includes offline theme park design and development, VR and AR game development, top-grade IP development and operations, and tourism-focused real estate projects. Its first offline experience park brand "SoReal Huanzhen" launched in 2017. Well-known director Zhang Yimou is a co-founder of Sky Limit Entertainment and serves as the company's artistic director.
Sky Limit Entertainment previously completed RMB 8-digit angel funding from Lenovo Capital and Incubator Group in November 2016.
Editor's Note: For more background on Dahong Qitian, please see Entertainment Firm Danghong Qitian to Launch VR Brand, Form VR Fund, MD 3/28/16 issue.
Keywords: Sky Limit Entertainment OCT Culture Group VC M&A augmented reality VR content production Internet funding Zhang Yimou angel funding Danghong Qitian Mango Culture and Innovation Private Equity Fund virtual reality IP development and derivatives