Light Chaser Animation Studios, a China-based film studio that is creating animated films that feature Chinese culture, has closed a $20m series B funding round featuring IDG Capital Partners, the China-based venture capital firm affiliated with media company IDG.
Other investors in the round include investment firms Chengwei Capital, Hillhouse Capital Group and GGV Capital. IDG previously invested an undisclosed amount in Light Chaser’s series A round.
“Light Chaser is still an early stage venture,” said Light Chaser founder Gary Wang. “We much appreciate the attention and support from all of our friends. We aim to create highest quality works that are truly original and would fuse both art and technology.”
The company is working on its first feature length animated film, Little Door Spirits, and expects it to be completed by July 2015. The project has a budget of RMB 70m ($12m).