iGlobe Partners participates in US$12mil funding for Unity Technologies

Singapore-based iGlobe Partners has participated in a US$12 million Series-B financing round in Unity Technologies, it was announced yesterday. The company has developed a 3D game development platform and counts Cartoon Network, Electronic Arts, LEGO, Microsoft, and NASA among its users.

“We seek and back companies that are transforming industries, and Unity Technologies is one of these companies. Developers have consistently recognized Unity as a leader in 3D game technology and user experience,” says Michel Birnbaum, partner at iGlobe Partners.

Raymond Yang, founding partner and managing director of WestSummit Capital, who also participated in this round of funding, has this to say: “Unity’s cross platform solution has been highly regarded as the best 3D game development platform among China developers and enabled them to develop highly differentiated gaming products.”

Sequoia Capital, which is a current investor, has also injected more funds into the company.

Unity Technologies, based in San Francisco, plans to use the investment to expand further into Asia. They hope to help their Asian developer base make better use of the Unity platform.

The company’s CEO and co-founder David Helgason adds: “For our next expansion phase, we decided to work with WestSummit Capital and iGlobe Partners because of their incredible understanding of and networks in Asia — our most strategic growth area — and their understanding of the region’s market dynamics. The fact that they’re great people doesn’t hurt either.”

iGlobe Partners is headquartered in Singapore and has a presence in Silicon Valley, Shanghai and New Zealand. The team includes chairman Philip Yeo, who also heads SPRING Singapore. They invest in technology companies in the areas of wireless technology and mobile applications, digital media, clean tech, next generation materials, applications of semiconductor technology and IT/Bio convergence.

Their portfolio includes Singapore-based Sparky Animation, a full-fledged animation production and content development company, Xumii from New Zealand, which develops mobile apps for social networking, and US-based Telenav, a mobile location-based app developer.

In 2010, business magazine Red Herring selected iGlobe Partners as a Top 100 Global VC (see story here).