Animated film production company Light Chaser Animation announced on its microblog that it has closed US$ 20 million of Series B funding led by GGV Capital, Chengwei Ventures and joined by Hillhouse Capital and Series A investor IDG Capital Partners.
Light Chaser was founded in March 2013 by founder and ex-CEO of Tudou.com Gary Wang who claimed to build the company in the way of running an Internet company. Light Chaser aims to create world-class animated films, like Pixar and Dreamworks, but with a Chinese cultural touch.
Light Chaser has attracted art, technology and management talents from mainland China, Hong Kong and Hollywood.
The production for Light Chaser’s first 3D animated feature film Little Door Spirits will be completed by July 2015 with a budget of RMB70 million (US$12 million). The company has released Little Yeyos, the cinematic trailer for the film, March this year. According to the company, the chubby Little Yeyos are favored by the netizens and the video clip recorded more than 10 million views within 48 hours after its release. The original story of this film is by Wang himself who is also a published writer.
According to Sha Ye, managing director at Chengwei Capital, Light Chaser’s second film project has also been started. “It’s a different style from the first one, and yet equally enthralling. We are really looking forward to them.”
image credit: Light Chaser Animation