SAN FRANCISCO, BEIJING and TAIPEI, Dec. 20, 2011 /PRNewswire-Asia/ -- WI Harper Group, a leading Chinese early growth and expansion stage venture capital firm, today announced a lead investment into Leiyoo Information Technology Co., Ltd. ("Leiyoo"), a pioneer HTML5 mobile- and browser-based game developer and platform provider in China. The Series A round was also joined by Innovation Works Development Fund ("IWDF").
Leiyoo owns several key patents in HTML5 development, specializing in online games for mobile devices, and product research and development for the HTML5 standard. In order to facilitate the transition to HTML5, it offers both game developers and game players a multitude of services. Leiyoo is now developing "Duopao"- the first mobile phone platform for games and gaming social networks based on the HTML5 code in China.
"Further to WI Harper's strategic plan in regards to mobile gaming, HTML5 adoption rate for both mobile- and browser-based applications are happening at a much faster pace than the timetable set by the World Wide Web Consortium. Even Adobe is now shifting from flash in favor of HTML5 on mobile devices," commented Mr. Peter Liu, WI Harper Group's Founder and Chairman. "Leiyoo optimizes games while offering a better user experience and lower data consumption rates. Since inception, Leiyoo has achieved outstanding results and technology breakthroughs. We are delighted with this opportunity given our confidence in the Company's industry leading technology and proven management team."
Mr. Huang He, CEO of Leiyoo stated, "Leiyoo will be a significant contributor to the development and evolution of the gaming industry based on HTML5. Our mission is to become a foundation service provider of exceptional value to both users - through casual, MMOSLG and MMORPG games; and developers - through our SDK rollout and enhanced game platform. We are very excited to be partnering with WI Harper and their extensive network throughout the world. We look forward to a mutually rewarding relationship by combining our complimentary strengths and synergies to achieve our goals."
About WI Harper Group
Founded in 1993, WI Harper Group is one of the founding venture capital franchises in Greater China. The firm invests in early and expansion stage companies with significant operations in China and aspirations to become global leaders. We are an active partner with a track record of over 150 investments in the technology, clean technology and health care sectors. The firm manages over $750 million in committed capital from our offices in Beijing, Taipei and San Francisco. For more information, please visit: http://www.wiharper.com
Leiyoo Information Technology Co., Ltd. ("Leiyoo") is the pioneer of HTML5 technology and the first HTML5-based web game developer in China. Leiyoo specializes in online games for mobile devices, and product research and development for the HTML5 standard. Leiyoo's core members are former employees from Tencent, Shanda, Sohu, CIAC, Ubisoft and other leading companies that bring seasoned technical and rich experience in product operations. Leiyoo also started an HTML5 researching community (www.mhtml5.com) with Google, Shanda, Tencent, SPIL and other enterprise members, as well as many individual developers. The HTML5 community has great influence and creates the framework for the development of the HTML5 industry in China. For more information, please visit: http://www.leiyoo.com
SOURCE WI Harper Group