An affiliate of telecommunications and internet group SoftBank has led a RMB103m ($15.3m) funding round for China-based digital animated content developer TThunder Animation, China Money Network has reported.
Media services provider Shanghai Oriental Pearl Media, television producer Shanghai WingsMedia and children’s literature publisher Pipilu all participated in the round, as did several undisclosed animation producers.
Founded in 2010, TThunder Animation creates and promotes digitally animated cartoons that are aimed at preschool children in China. Its series include Rainbow Chicks and Tiger Weili, and it signed an international distribution deal for the former in early 2017.
Television stations and online video platforms pay to broadcast the shows, with additional revenue coming from the authorisation of animation intellectual property (IP) rights.
TThunder founder Lei Tao told 36kr the capital will be used to expand the team with several strategic hires, as well as to build out the company’s collection of IP.
Image courtesy of TThunder Animation.