Leiyoo, a Chinese developer of HTML5 mobile and browser-based games, has raised an undisclosed amount of capital in a Series A funding round led by VC firm WI Harper Group and joined by the recently established Innovation Works Development Fund.
Leiyoo, which is headquartered in the Chaoyang district in Beijing, says it owns ‘key patents’ in HTML5 development, specializing in online games for mobile devices based on the standard.
The company offers both game developers and players multiple services, and is currently developing a platform for games and gaming social networks based on HTML5, dubbed “Duopao”.
Leiyoo also co-founded the first open organization in China that promotes the growth and usage of HTML5 alongside Google, Shanda, Tencent and other enterprises and developers.
WI Harper Group is a venture capital firm that focuses on early and early expansion investments in Mainland China, Taiwan and Silicon Valley. It was founded in 1993 and claimed, as of 2008, 15 IPOs from over 90 investments. WI Harper manages seven funds and over $750M in invested capital through 19 dedicated investment professionals located in Beijing, Taipei and San Francisco. The firm’s focus is technology, clean technology and healthcare. Its track record includes [http://www.crunchbase.com/company/divx DivX], Focus Media, Vizio, SiRF...
For more than 20 years, Innovation Works has played a vital role in Southwestern PAâ€™s technology economy, investing capital, business expertise, and other resources into high-potential companies with the greatest likelihood for regional economic impact. IW is the single largest investor in seed-stage companies in the region. They also provide resources for manufacturers to adopt new technologies.