Virtual synthetic character developer Next Generation has secured ‘millions of US dollars’ in its Series A round of financing led by China Creation Ventures, an early-stage investment firm that has backed industry players like JD.com, CreditEase, and Asia Innovations Group.
Return backer Shunwei Capital also joined the round. Shunwei had exclusively made a similar-sized investment for Next Generation’s pre-A round in October 2020, the investor said in a WeChat post on Monday.
The startup plans to allocate the proceeds to spruce up programmes linking to virtual human products and their commercialisation.
The Beijing-headquartered Next Generation uses virtual synthetic characters to create immersive and entertaining content including animation, music, and web series.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 23-26, 2021.
