Successful Chinese mobile publisher parent company Chukong Technologies continues its upward momentum, announcing it had raised $50M in new capital to put toward publishing, localization, and developer tools.
Chukong Technologies, parent to successful Chinese mobile game publishers Coco and CocoaChina, has completed a new round of funding with $50 million U.S. in new investment, bringing its total funding to date to $83 million. This round's investment was led by China-focused equity fund New Horizon Capital, with participation from GGV Capital, Sequoia Capital, Steamboat Ventures and Northern Light, all established investors in Chukong. "With the proliferation of smartphones across China and countries worldwide, we see a significant opportunity," said Chukong CEO Haozhi Chen, in conjunction with the announcement. Chen said that in addition to development and localization of mobile games, the publisher parent was looking to use the new volley of funding to continue propping up its developer tools, namely its free Cocos2D-x engine which serves as a popular development platform for Chinese game devs. Games among Coco and CocoaChina's catalog rank among some of the most successful in the Chinese mobile market, including the successful Fishing Joy franchise. Chukong reports that its monthly gross revenue has recently topped out at $12 million as well.
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