Zhang Yimou’s Yuan Universe company “Right Popular Qitian” completed hundreds of millions of yuan in Series C financing

Odaily News 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, funded by Huakong Fund, China Vision Valley Industrial Fund, NetEase, Guoke BOE, and CITIC Centenary Assets, Jiahesheng Capital and Wild Grass Venture Capital jointly invested. According to the official website of Danghong Qitian, the famous director Zhang Yimou serves as its co-founder and also serves as the artistic director of Danghong Qitian. According to Tianyancha data, popular Qitian has raised 8 rounds of financing so far. Among them, rounds B to B++ are concentrated between October 2021 and December 2022, which is when investment and financing in the Metaverse is booming. It is worth noting 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 Qitians positioning is the overall solution and product implementation of XR content production + vehicle research and development + digital operation, and its business involves XR + park, XR + technology show, XR + e-sports, XR + sports and other fields. It was previously reported that in January this year, the popular Qitian, which Zhang Yimou held shares and served as co-founder, raised a B++ round of financing. The amount of financing was unknown. NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd.