Exclusive: One Animation raises $7.5m from investors led by Jungle Ventures

Visual from One Animation website

Singapore-based studio One Animation has raised $7.5 million in a Series B round led by local VC firm Jungle Ventures, DEALSTREETASIA has learnt.

In addition to Jungle, as many as 20 other investors, a majority of whom are high net worth individuals, have also joined the round, said an executive aware of the development.

Jungle Ventures, though, is the only VC involved in this round. One Animation and Jungle are slated to make an announcement on this funding round soon.

For the Singapore based VC, this marks a follow-on investment in One Animation. The VC had participated in the animation company’s seed round as well as its $5.4 million Series A round.

One Animation also counts Jayesh Parekh, founder of Sony Entertainment, and Jungle’s founding partners Anurag Srivastava among its investors. Srivastava is also learnt to be the largest individual shareholder in One Animation.

Founded in 2008, One Animation says it has created a proprietary production pipeline that vastly reduces the time and cost of producing high quality CGI animation.

According to the information provided on the Jungle’s website, One Animation’s self-owned and co-owned IP has been broadcast in over 60 plus countries by leading networks including, Nickelodeon, Disney, ABC Kids and Discovery Kids.

Jungle recently announced that it had led the $2.3 million Series B round of Singapore-based Mobikon Asia, a digital marketing startup founded by Samir Khadepaun and Salil Khamkar.

Mobikon Asia is a mobile commerce platform that enables a spectrum of offline F&B businesses – quick service, fine dine, casual dine and cafes – to use a digital platform for in-store customer engagement, food chain management, mobile ordering and loyalty programmes.

Related Stories: Jungle Ventures leads $2.3m Series B in Mobikon 

Jungle also recently announced that it had roped in Ratan Tata, chairman emeritus of Tata Sons Ltd, as a special advisor. The VC  firm will look to use the experience that Tata brings on board, as it seeks to tap opportunities in the fast growing tech and consumer sector in the region. Jungle is currently in the process of raising its second fund with a target of up to $100 million; but it may also opt for a final close at around the $60 million-$75 million mark, if the initial target turns to be too ambitious.

It had initially raised $10 million as part of its first pan-Asian super Angel fund.

We’ve reached out to Jungle Ventures and One Animation about the latest funding round, and will update this story with any response that we get.

In an unrelated development, Malaysia-based bus ticketing service CatchThatBus is close to finalising its Series A round, led by Jungle Ventures and a couple of international investors.

CatchThatBus raised its seed capital from Jungle Ventures in May last year, believed to be around S$1 million ($753,000). Other investors that were part of the seed funding round included Singapore’s National Research Foundation and Sachin Bhatia, the co-founder of India-based and Nasdaq-listed online travel company MakeMyTrip. CatchThatBus was also among the pilot batch of four startups that raised a total of $7 million under 500 Startups and MaGICs growth-stage regional accelerator called Distro Dojo.

Also Read: Jungle Ventures ropes in Ratan Tata in advisory role, ahead of launching second fund