(Yicai Global) Sept. 28 -- Shanghai Banana Yun New Media Co. (Banana Gaming and Media) has obtained Round-B financing of USD30 million (RMB200 million yuan) to further explore the electronic sports sector.
The lead investors for this funding series are Matrix Partners China and Shanghai Jin Yuan Investment Management Co. and the co-investors are Seeinfront Capital and IDG Capital, the firm announced yesterday.
Formed in 2006, Banana Gaming and Media is seeking breakthroughs and upgrades in its entertainment, gaming and esports content from the perspective of top gaming intellectual property, and also stages various popular mobile gaming competitions and works closely with multiple electronic sports teams and gaming manufacturers.
The electronic sports industry has embarked upon a stage of high-speed development encompassing more than 200 million people, said Wang Huadong, partner of Matrix Partners China. Players have an overpowering need for peripheral esports activities, especially competitions and content.
Banana Gaming and Media will further explore the esports sector and expand into international channels such as Facebook, Twitter and YouTube, while building international content brands for electronic sports. It will also focus on research and development of online movies and movie theaters with a pan-gaming theme, as well as original intellectual property, such as electronic sports documentaries, to provide high quality content.