Gobi Partners invests in the clouds
Tech-focused VC firm Gobi Partners and Singapore-based EDBI Investments have injected $6 million into cloud computing provider Cloudpic Singapore, with the capital slated to enable Cloudpic’s expansion across Asia.
This is the second investment round for Cloudpic that Gobi Partners has led. The company specifically creates applications for the digital entertainment industry, used by artists and studios looking to produce content from anywhere in the world. Headquartered in Singapore, the company further manages an R&D unit in the US and is planning to launch an operation in China to showcase Chinese studios' work worldwide.
The investment comes five months after China-based Gobi penned a deal with Singapore's Media Development Authority to launch a S$100 million ($74 million) Singapore-based fund aimed at encouraging domestic digital media companies set up shop in the Mainland market.
"We feel that Singapore's commitment to investing in and growing a world-class content industry combined with the Cloudpic platform's ability to transparently manage distributed projects will pave the way to creating very attractive and highly investable media projects," Gobi's Co-Founder and Partner, Wai Kit Lau, said of the new deal.
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