Filmmaker Zhang Yimou’s VR Firm Scoops Funding for Virtual Theme Park

Filmmaker Zhang Yimou’s VR Firm Scoops Funding for Virtual Theme Park

Tang Shihua

Date: Thu, 06/21/2018 - 19:24 / source:Yicai
Filmmaker Zhang Yimou’s VR Firm Scoops Funding for Virtual Theme Park
Filmmaker Zhang Yimou’s VR Firm Scoops Funding for Virtual Theme Park

(Yicai Global) June 21 -- Sky Limit Entertainment, a virtual reality company co-founded by critically acclaimed Chinese film director Zhang Yimou, plans to use the money from a recent fundraising to build a simulated studio and experience park akin to Universal Studios.

Sky Limit raised CNY100 million (USD15 million) in a pre-Series A financing round led by OTC Cultural and Creative Shenzhen WeiYue Creative Investment, online news journal Lieyunwang reported. Mango Creative Equity Investment Fund also too part.

Marketed under the Beijing-based company’s SoReal entertainment brand, the immersive virtual studio and theme park will feature movies, present science and technology stage shows, and host a coffee store staffed by robots. SoReal is testing foreign markets too, with the first entry to Japan scheduled for later this year. 

Founded in 2015, Sky Limit designs and produces VR parks and tourism real estate projects that are complete with augmented and virtual reality games. Its first VR experience flagship store opened in Beijing last year and has already started turning a profit, largely from day passes priced at CNY498 (USD77).

Zhang’s most recent movies include ‘The Great Wall’ in 2016 and the ‘House of Flying Daggers’ in 2004.

Editor: Emmi Laine

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Keywords: FINANCING, VR Experience, SoReal, IP, Sky Limit Entertainment, AR Games, VR Games, Universal Studios, Zhang Yimou, Movies, Series A, Fundraising