US-tech giant Intel’s VC arm backs China’s Sky Limit Entertainment
China’s Sky Limit Entertainment Group has received an undisclosed amount in a series A funding round from US-based technology company Intel Corporation’s venture capital arm Intel Capital. Sky Limit Entertainment will use the funding proceeds for location-based VR content creation and for the development and promotion of comprehensive virtual, augmented and mixed reality content solutions for applications such as large space multiplayer free-roaming interactive games, an announcement said in Thursday.
The funding round follows previous investments that the company had received from AVICTC, Lenovo Capital and Incubator Group (LCIG), Shenzhen Weiyue Creative Investment Group and Mango Cultural and Creative Industry Private Equity Fund.
In 2017, Sky Limited Entertainment opened one of the world’s first super-scale VR experience centers in downtown Beijing under its newly announced international entertainment brand “SoReal”. In addition, Sky Limited Entertainment’s Global Innovation Center, established in 2018, was the first entertainment technology operation to be located in the National Base for International Cultural Trade (Beijing).