Tencent Holdings Ltd. and Sony Corp. are beefing up their bet on cloud gaming by joining the latest fundraising round of Japanese venture Ubitus K.K.
Ubitus, which specializes in cloud-gaming technology and services, said Wednesday it completed a round with investments from Tencent, Sony Innovation Fund by IGV and Square Enix Holdings Co., without disclosing the amount raised. The investors put in about $45 million at a valuation of less than $400 million, a person familiar with the matter said, asking not to be identified because the details aren’t public.
