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Cityneon Holdings has introduced an undisclosed quantity of funding from the Singapore Financial Growth Board’s funding arm, EDBI, on 26 August 2019.
The homegrown firm creates ‘experiential environments’ for manufacturers, in addition to licensed exhibitions, occasions and theme park points of interest.
In addition to bringing us Common Studios Singapore, they’re finest identified for creating the extremely profitable Avengers S.T.A.T.I.O.N exhibitions around the globe, after buying Victory Hill Exhibitions (VHE) in 2015.
Avengers S.T.A.T.I.O.N exhibition in Singapore / Picture Credit score: Geek Tradition
With EDBI’s funding, Cityneon will faucet on the board’s in depth community to additional increase their growth.
Immediately, roughly 90 per cent of the group’s earnings are derived from exterior of Singapore. We intend to step up our tempo of growth.
Ron Tan, Cityneon, Group Chief Govt and Govt Chairman
The corporate additionally plans to leverage on combined actuality and client analytics with the assistance of EBD’s experience in rising applied sciences, to enrich what they’ve developed in expertise leisure choices.
Along with their current headquarters right here, Cityneon will arrange their newest artistic workplace in Singapore, like those they at the moment have in Los Angeles and Las Vegas.
With this, they are going to carry their group Chief Artistic Officer Welby Altidor over to steer the artistic staff to develop extra multi-sensory experiences, beginning 2020.
EDBI President and CEO Chu Swee Yeok mentioned their funding in Cityneon is aligned with the board’s strategic programme to help high-growth Singapore-based corporations in the direction of growth.
They recognise Cityneon for having “efficiently remodeled itself into an IP-focused world chief in immersive experiential leisure from their conventional companies”.
The agency has come a great distance because it began as a provider of electrical home equipment in 1956, and later expanded into designing and putting in store shows, retail cubicles and expo pavilions since across the 70s.
Cityneon was a Singapore Change (SGX) listed firm for 13 years, till Tan lately moved to delist in early 2019, to ensure that the agency to regain extra autonomy by way of privatisation.
Their final funding got here from Citic Capital, the funding arm of Chinese language state-owned monetary conglomerate Citic Group, in Could 2019.
Citic took a major 10% stake in Cityneon, in a deal that might assist the agency velocity up their progress in North Asia.
Cityneon’s Jurassic World: The Exhibition / Picture Credit score: Viator
Cityneon at the moment companions quite a lot of main studios like Disney, Marvel, Hasbro, Common, and Lionsgate.
They’ve toured their licensed exhibitions, with main popular culture names just like the Avengers, Transformers and Jurassic World, in round 40 cities until date.
The subsequent stops on their world map embody Glasgow and Mumbai, the place the Avengers S.T.A.T.I.O.N exhibition will land later this 12 months, whereas the Transformers and Jurassic World exhibitions might be in Dubai and China respectively in 2020.
Cityneon expects to enter extra partnerships and safe extra IPs for his or her rising portfolio.
Featured Picture Credit score: Cityneon / Wales On-line