PapayaMobile gets $18m from China VCs
China-based Keytone Ventures and global VC firm DCM have led an $18 million Series B funding round into PapayaMobile, a social gaming network supported by Google’s Android platform.
According to PapayaMobile, which has offices in both Beijing and California, the capital will be used to strengthen its "developer ecosystem in both the U.S. and Europe, while strengthening the portfolio of PapayaMobile products." PapayaMobile specifically hosts mobile games on Android systems, used by15 million users.
PapayaMobile received its first capital financing round last year, receiving $4 million from DCM. DCM has also invested in digital social entities such as RenRen, Trion, RockYou and PlayFirst, while Keytone has invested in companies including Analogix Semiconductor and Borqs.
The news comes days after DCM announced that it would launch a $100 million fund focused on targets and developers surrounding Google Android's mobile platform, touted as the world's first Android-focused fund.
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