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Cloud games specialist Ubitus receives backing from Tencent

As well as Sony and Square Enix
Cloud games specialist Ubitus receives backing from Tencent

Cloud gaming service provider Ubitus has completed a round of strategic financing.

The amount raised was not detailed in the announcement. However, Tencent led the investment, while other game giants such as Square Enix and Sony took part too.

With its newfound money, Ubitus plans to advance its cloud games tech and grow its service. Furthermore, the company will find new game associated apps.

It will also use some of the funding to make the most out of 5G, and mobile edge computing, which Ubitus claimed would be "essential" in the near future. As such, it is currently developing new technology.

Cloud nine

"We are very excited to have some of the most important players in the game industry as our strategic shareholders," said Ubitus CEO Wesley Kuo.

"Their investments represent a vote of confidence in our technology, our achievements, and our potential role in the rapidly growing cloud game market.

"With our innovative technology and their resources, we shall help more partners roll out cloud game contents and services and accelerate the industry's transformation to the cloud."