(Yicai Global) Oct. 13 -- Beijing-based MiYoo Entertainment Ltd., the maker of a musical mobile game featuring Japanese vocaloid Hatsune Miku, has secured tens of millions of yuan in financing led by Shenzhen Guozhong Venture Capital Management Co., entertainment news outlet Sansheng Qing Bao Zhan reported today.

The company is made up of experienced music and leisure game developers who have previously worked on leading Chinese game platforms and created some of the most popular games in the country.

Miyoo has also authorized internet giant NetEase Inc. [NASDAQ:NTES] to act as exclusive Chinese distributor of its rhythm racing mobile game Hatsune Speed, which features Hatsune Miku.

Popular music mobile games are still very rare in the Chinese market and there is great potential for development in the sector.

Starting with Hatsune Speed, MiYoo Games will look to develop high-quality mobile games with a life cycle of at least five years based on top-tier musical intellectual property, said founder Zhou Lei. The firm aims to become a leader in the music games field.

People born between 1995 and 2000 have become a key demographic in China's consumer market, and they are dedicated players of music and fantasy games, said Lin Xiangfeng, investment manager for technology, media and telecommunication at Shenzhen Guozhong Venture Capital.

Hatsune Miku, and other vocaloids, perform songs that are written by amateur or professional musicians. Given lyrics and a melody, the vocaloid will sing the given tune using a preset voice, which can be adjusted with intonation settings.