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China’s Game Engine Cocos Raises $50M, Goes Beyond Games

Apr 11, 2022•over 3 years ago

Amount Raised

$50 Million

Description

Cocos Technologies, a China-based game engine provider that has been around since 2011, just announced it has picked up $50 million in a Series B funding round in a bid to work on development and move beyond games. Investors include CCB Trust, a subsidiary of China Construction Bank, GGV Capital, and real-time communication solution provider Agora, a long time partner of Cocos.

Company Information

Company

Cocos Technologies

About

To play catchup, the Beijing-based company added 3D capabilities to its engine last year. The Chinese company is not aiming to take on behemoths like Unreal or Unity though; rather, it sets sight on an overlooked trend — the revival of HTML5 web games in China and elsewhere. The company also supports Chinese search giant Baidu’s metaverse platform Xirang, though it declined to share how exactly they work together. These revenue streams have been able to sustain Cocos, but the company is ready to accelerate growth, which is why it sought out outside financing. A Chinese tech company that Coco cannot name due to a non-disclosure agreement is using its engine to work on advanced driving solutions and smart cockpits.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech