Leaf assists Planet O Ltd. to raise approximately $ 3.2 million USD in a seed funding round to develop eSports.
The investment round was led by the global real estate developer Ceetrus, formerly Immochan International, a subsidiary of Auchan Holding Group. The team has assisted Planet O to structure and negotiate the funding operation with Ceetrus.
Planet O plans on using this funding to develop their network of futuristic entertainment hubs, starting next year in Shanghai, China. Planet O plans to disrupt the entertainment industry in China through the implementation of a physical gaming platform, spreading the use of VR and other new high-tech immersive technologies that have recently exploded onto the gaming and eSports scene.
“Planet O will change the way consumers view and interact with high tech, virtual reality and extended reality,” said Company Founder and CEO Eric Oetting.
“We believe that Planet O offers the perfect platform to answer the needs of the USD multi billion and fast-growing eSport and gaming industries”, said Bruno Grangier, Managing Partner of Leaf.
Powered by proprietary Smart Facility Technology, Planet O creates a gamer community in China, empowering them to connect, compete and share social experience in a brick and mortar location. Planet O has partnered with gaming, Artificial Intelligence and Extended Reality companies worldwide, offering them a portal into China’s gaming community and helping newly established companies settle in a whole new world.
About Planet O
Planet O is a location-based hub, mixing VR and social experience. The company’s first location is set to open in 2020 in Shanghai before expanding across China. It has established strong partnerships with gaming and entertainment companies worldwide in order to provide a disruptive solution to the demanding entertainment markets.
About Leaf
Leaf is a transaction law firm based in China. Its team, composed of Chinese and international corporate lawyers, advises mid-cap enterprises and international corporations for their funding operations, their M&A deals in Asia, their joint-ventures with public and private Chinese players, to expand distribution networks across Asia or to structure investment in Asia-based start-ups.
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Learn more about Terms Sheet negotiation in a funding deal
For further information:
Bruno Grangier b.grangier@leaf-legal.com
Jean-Philippe Engel jp.engel@leaf-legal.com
