China-based animated content producer L² Studio has secured an eight-figure renminbi amount (RMB10m = $1.6m) in a series B round featuring internet group Tencent, KrAsia reported today.
Founded in 2013, L² Studio creates Chinese-language animated content for broadcast on television and online. Its productions include action series Rakshasa Street, which follows the plot of a comic produced in the traditional Chinese “manhua” style.
L² Studio also develops animation production technology and provides animation-related services such as data research, marketing and distribution.
The company plans to utilise existing and emerging technologies such as motion capture or virtual reality to invigorate and streamline the animated production process.
L² Studio had previously received an undisclosed amount of series A funding from Phoenix Tree Capital and an undisclosed sum in an angel round featuring venture capital firm Sinovation Ventures.