The Vancouver Economic Commission (VEC) is excited to congratulate one of our 2015 China Mission delegates, Archiact Interactive, on raising USD$3.17 million (approximately CAD$4.2 million) in its latest round of funding. The investment came from 37 Interactive Entertainment, an international entertainment company based in China, resulting in a 10% stake and a valuable strategic partnership.
Archiact is a Vancouver-based virtual reality content developer and publisher. Founded from a Yaletown underground warehouse by Frank Shen and Derek Chen, Archiact has grown from three employees to over 70 in the past two years, and recently opened up a Shanghai branch. Archiact is also the holder of Consumer Virtual Reality (CVR) conference and exhibition in Vancouver Convention Centre on May 14, 2016, bringing VR knowledge and experience to local people interested in virtual reality.
Archiact was one of the delegates on the VEC’s most recent China Mission, conducted in November of last year. The goal of the Mission was to attract investment to Vancouver, build long-term strategic partnerships, and serve as a platform for Vancouver companies to showcase their cutting-edge technologies and services to a broader market.
“It was an incredible opportunity to attend VEC’s China Mission” said Frank Shen, founder of Archiact, “I was connected with many Chinese partners and investors, and we have significantly increased our brand recognition in the Asia-Pacific market. I’m glad to see the deal was closed in Guangzhou, a sister city of Vancouver, where we visited with VEC last November. I highly recommend companies interested in building more foreign connections to join VEC’s future trips.”
For the full story on Archiact’s newest round of funding, read the news release.