China-based software developer Noitom has raised $20m in a series B round featuring diversified conglomerate Legend Holdings and toy and comics producer Alpha Animation and Culture, China Money Network reported yesterday.
Legend invested through its corporate venturing arm, Legend Capital. Private equity firm Haitong Kaiyuan Investment and a range of unnamed investors also participated in the round, which follows $5m of series A funding from Legend Capital in 2014.
Founded in 2011, Noitom’s software and sensors capture movements of the human body and its interactions with surroundings. The technology is aimed at the film, gaming and animation, medicine, science and education sectors.
Noitom will use the money to increase its focus on virtual reality applications.