Intel backs China’s VR experience operator SoReal
The company has ambitions to become the Universal Studios of China and plans to open its first park by the end of this year in eastern Jiangxi province.
SoReal(Sky Limit Entertainment Group), a startup co-founded by the famed director of "House of Flying Daggers" and "The Great Wall," is preparing to open this year what it bills to be the world’s first virtual-reality park.
It 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 on Thursday.
The funding round follows previous investments that the company had received from AVICTC, Lenovo Capital and Incubator Group, Shenzhen Weiyue Creative Investment Group and Mango Cultural and Creative Industry Private Equity Fund.
The company has ambitions to become the Universal Studios of China and plans to open its first park by the end of this year in eastern Jiangxi province, Chief Executive Officer Michael Qi Xiao said. Highlights will include characters such as the "Monkey King”—the mythological simian superhero whose stories have spawned a plethora of literature, animation and feature films in the country—Qi said.
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