500 Start-ups, Gree lead Indonesia game studio Series C round
US early stage investor 500 Startups and Japanese gaming giant Gree have led an undisclosed Series C round investment in Indonesian game start-up Touchten Games.
Set up in 2009, the Jarkarta-based based company develops mobile games, like Ramen Chain and Sushi Chain, and a gamified offline-to-online (O2O) platform called Touchten Platform.
The latest capital injection - understood to be a seven-figure dollar investment - follows a Series B round raised between November 2013 and March 2014. Early investors include CyberAgent Ventures, anime studio TMS Entertainment, Singapore's UOB Venture Management, and Indonesia's Ideosource.
The start-up claims that its titles have garnered more than 12 million downloads globally so far - 1.5 million of them in Indonesia. The most popular game is Teke Teki Saku, which has more than 800,000 users, followed by puzzle game app Dagelan, which hit 400,000 users.
The new investment will be used for hiring and marketing its O2O platform and games. The firm currently employs 35 people, and is looking to double that by early next year.
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