Xiaomi-Backed Gaming Tech Supplier Weiling Raises USD40 Million From Temasek, Others

Xiaomi-Backed Gaming Tech Supplier Weiling Raises USD40 Million From Temasek, Others

(Yicai Global) Sept. 28 — Weiling Times Technology, a Xiaomi-backed Chinese online game rendering expertise supplier, has secured USD40 million in its newest financing spherical, the startup’s fifth fundraiser in three years.

Weiling’s B2 spherical of financing was led by Singapore sovereign wealth fund Temasek Holdings, the Beijing-based agency stated through WeChat on Sept. 26. Existing shareholders Future Capital and CDH Investments additionally took half.

The proceeds will likely be used to additional enhance Weiling’s format within the area of real-time cloud rendering and promote the event of your entire cloud gaming industrial chain, it stated.

Cloud gaming is a kind of on-line gaming that runs on distant servers and streams video games on gamers’ units. Unlike downloaded sport software program, cloud gaming’s computing and picture processing are carried out within the cloud, lowering system configuration necessities. Real-time cloud rendering is a key expertise in cloud gaming.

Chinese tech big Xiaomi led Weiling’s CNY150 million (USD20.1 million) A spherical fundraiser in April final 12 months and took part in its CNY400 million (USD55.7 million) B spherical final December. Weiling was based in 2019.

Shanghai-based sport developer MiHoYo Technology additionally took half in two of Weiling’s fundraisers final 12 months. The pair additionally partnered to create a cloud model of in style sport Genshin Impact.

After final 12 months’s ultimate fundraiser, Weiling expanded its enterprise footprint primarily based on present cloud video games, together with growing particular {hardware} and software program for cloud rendering and constructing a cloud rendering-based digital human improvement platform, the corporate added.

Editors: Dou Shicong, Futura Costaglione

https://www.yicaiglobal.com/news/xiaomi-backed-gaming-tech-supplier-weiling-bags-usd40-million-in-series-b2-fundraiser

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