SINGAPORE-BASED computer graphics animation studio, One Animation, has closed a Series B financing round led by Hong Kong's STI Financial Group, it said on Wednesday.
The size of the deal was undisclosed, but it will make STI a major shareholder in the company. Along with Jungle Ventures, STI was a Series A investor in 2015, when One Animation raised US$7.5 million led by Jungle Ventures.
One Animation's portfolio of intellectual properties include Oddbods, Insectibles and Rob the Robot.
The Oddbods YouTube channel had a viewership of 165 million in 2016, and grew to 3.5 billion views by early 2018. In China, Oddbods has over two billion views across 15 online platforms, including YouKu, iQiyi and Tencent, the company said.
It plans to launch Oddbods toys across all Target stores in the US in the fourth quarter this year and at select locations in Europe.
One Animation will use the new proceeds to market its toys and push merchandise expansion into new markets, it said. It will also develop new intellectual properties and hire more talent.
Founded in 2008, One Animation's productions are broadcast worldwide on networks such as Disney Channel, Cartoon Network, Nickelodeon and Discovery Kids.
The follow-on financing from STI Financial Group will see Ranbor Li, an STI nominee director, join One Animation’s board to assist in strategy and business development.