Experiential agency Cityneon has bagged an undisclosed amount of investment from EDBI, to expand its headquarters in Singapore by establishing a new creative office as well as growing its international businesses in Asia and globally. This sees Cityneon’s group chief creative officer, Welby Altidor relocating to Singapore from the US next year to direct the company’s global creative efforts in experience entertainment.
Cityneon collaborates with global movie studios such as The Walt Disney Company, Marvel, Hasbro, Universal Studios, and Lionsgate. Through these partnerships, Cityneon is granted rights to curate, create and construct exclusive entertainment experiences for visitors around the world. These range from designing customer interfaces to executing global brand activation campaigns for brands.
According to Ron Tan, executive chairman and group chief executive officer of the Group, internationalisation and global perspectives are Cityneon’s key growth engines. He said that EDBI’s extensive network will add significant value to Cityneon’s expansion worldwide, as the company benefits by applying the latest innovations to enhance its experience entertainment.
Tan also added that approximately 90% of the group’s profits are derived from outside of Singapore, as the company steps up its pace of expansion.
Chu Swee Yeok, chief executive officer and president of EDBI said Cityneon has demonstrated its ability to create captivating storylines by localising multiple blockbuster intellectual properties to thrill audiences across any cities. He added that its investment in Cityneon is aligned with EDBI’s Strategic Growth Programme to support high growth Singapore-based companies in expansion plans.
“The company will leverage EDBI’s strong technology network for new innovations including mixed reality and consumer analytics to complement their good mastery of animatronics. We look forward to Cityneon’s contributions to enhance Singapore’s attractiveness as a destination for immersive events while strengthening our design capabilities,” he said.