[Danghong Qitian completed hundreds of millions of yuan in Series C financing, with Zhang Yimou as co-founder] 🎉Recently, Beijing Danghong Qitian International Cultural Technology Development Group Co., Ltd. (referred to as "Danghong Qitian") completed hundreds of millions of yuan in Series C financing. The investors Including Huakong Fund, China Vision Industry Fund, NetEase, Guoke BOE, CITIC Centennial Assets, Jiahesheng Capital and Wild Grass Venture Capital. It is reported that the famous director Zhang Yimou serves as the co-founder of the popular Qitian and also serves as the artistic director. Tianyancha data shows that popular Qitian has completed 8 rounds of financing, among which rounds B to B++ are concentrated between October 2021 and December 2022, which is a period of popular investment and financing in the Metaverse. It is worth mentioning that in these three rounds of financing, Lei Jun’s Xiaomi Group, Ding Lei’s NetEase Capital, and private equity funds from well-known companies such as CITIC Group and BlueFocus all participated.

Popular Qitian's business positioning is "XR content production + vehicle research and development + digital operation" overall solutions and product implementation, involving "XR+ Paradise", "XR+ Technology Show", "XR+ E-sports", "XR+ Sports" and other fields. In January this year, popular Qitian, where Zhang Yimou holds shares and serves as co-founder, completed the B++ round of financing. The amount of financing is unknown. NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd.

What do you think of the popular Qitian business? Welcome to share your opinions in the comment area! 😄