Sky Limit Entertainment Receives Series A Funding from Intel Capital
Beijing, December 20, 2018 – Sky Limit Entertainment Group, a leading entertainment technology company committed to creating immersive entertainment and cultural experiences in China, today announced the close of a Series A funding round from 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. In addition, the company will strive to make VR and related technologies and experiences commercially viable across sectors including technology, entertainment, sports and education.
Established in 2015, Sky Limited Entertainment is committed to creating the ultimate in immersive entertainment experiences, combining content creation, IP operations, and digital reality entertainment. The company possesses over 70 patents and related technologies. Prior to this Series A funding, the company had received investments from AVICTC, Lenovo Capital and Incubator Group (LCIG), Shenzhen Weiyue Creative Investment Group and Mango Cultural and Creative Industry Private Equity Fund.
Sky Limit Entertainment is focused on empowering the development of technology-driven entertainment with innovative technologies such as VR and AR. The company produces user experience-oriented entertainment and interactive showcases that merge technology into cultural engagements around the world. 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).
Since its inception, Sky Limited Entertainment has been focused on the following business priorities:
* To plan, create content and operate VR- and AR-based, large-scale technology theme parks and entertainment centers, with modular products including large space multiplayer experience PvE (Player vs. Environment); large space multiplayer battle PvP (Player vs. Player); VR cinema experience; and digital sports. The company also develops theme park AI systems and utilizes big data to create new forms of offline entertainment experiences.
* To bring out the best in innovation and production for cultural shows and programs by blending local and overseas talent with state-of-the-art technology and video art design and the best combination of sound, lighting and electrical effects. The goal is to create completely new forms of technological art solutions tailored for in-house performance spaces and architecture, in order to help cities better present highly customized, integrated, low cost, and pollution free cultural tourism experiences.
* To pioneer the VR sports competition industry with large space multiplayer free-roaming modules. At the final competition of the 2018 Intel Master Challenger (IMC), Sky Limited Entertainment had its world premiere launch of the Intel® Core™ i7 processor-based SoReal PvP "Agent Zero" (formerly called "Agent 2047"). The launch marked a new industry milestone and showcased the future trend of VR sports competition.
"Sky Limit Entertainment is pioneering a new industry by fusing technology and entertainment to deliver immersive experiences," said Xiao Qi, Founder, Chairman and CEO of Sky Limit Entertainment Group. "The strategic investment from Intel Capital will bring us broader development opportunities and deepen our collaborations across industry verticals, as well as help increase adoption and make VR and AR applications commercially viable. Sky Limit Entertainment will speed up strategic technology deployment in sectors such as digital entertainment, digital arts and digital sports. We will also strengthen our 'SoReal' brand, while applying our creatively innovative spirit to develop a global industry ecosystem that brings together technology, content and channels."
Anthony Lin, Vice President and Senior Managing Director of Intel Capital, said: "Our strategic investment in Sky Limit Entertainment will help advance the development and commercialization of VR applications to deliver outstanding user experiences and inspire new innovations in immersive entertainment. The expansive volume of data generated from this sector demands higher computation and communication power and accelerates the development of the data economy."
The strategic investment announced today is set to further advance Sky Limit Entertainment's technology development and content creation; increase the adoption of industry applications; help the company expand into international markets; and create a new trend in entertainment technology consumption.
