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.
Also read: WI Harper, Matrix Partners Invest $12.5 Million In Social Games Maker SNS Plus
WI Harper Group is a venture capital that focuses investments in Greater China. It was founded in 1996 and claims, as of 2008, 15 IPOs from over 90 investments. WI Harper raised a $133 million fund in March 2007.
For more than 20 years, Innovation Works has played a vital role in Southwestern PA’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.
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