Ubitus, which focuses on cloud game technology and services, said on Wednesday that it had received investment from Tencent, IGV’s Sony innovation fund and square Enix, but did not disclose the specific amount of financing. A person familiar with the matter told the news agency that the investors invested about $45 million in the case of a total valuation of less than $400 million.
Note: IGV’s Sony innovation fund is one of Sony Group’s venture capital plans. IGV was jointly founded by Sony and Daiwa capital holdings.
“In the long run, cloud games will reduce the development burden of making games for multiple platforms, expand games to new regions and drive higher subscription revenue, but it is still a long way from becoming a major platform,” said Matthew kanterman, an analyst at Bloomberg
However, cloud games are facing many challenges, and the ambitious Google stadia has closed its internal studio. Despite skepticism, many video game platform owners see the potential of this technology and predict that it can coexist with a host based business model. Sony and Microsoft have launched corresponding streaming media services.
Founded in Taiwan in 2007, ubitus is currently headquartered in Tokyo. Its main business is to provide solutions for cloud games. Its partners include Nintendo (switch cloud version of biochemical crisis, Assassin’s creed, control and other works), square Enix (Dragon fighting 10).