AVCJ

Japanese mobile games developer MyNet raises $6.2m

  • Andrew Woodman
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MyNet, a Japanese mobile games developer, has raised JPY730 million ($6.2 million) from a slew of investors including B Dash Ventures, SMBC Venture Capital, Shinsei Corporate Investment, and Sumitomo Mitsui Bank.

Founded in 2006, the Tokyo-based start-up has focused on producing social mobile games since 2012. It currently has four games on both the Android and iOS mobile platforms; its most recent release is Emblem of Falkyrie, a role-playing game (RPG).

Prior to focusing on games, MyNet was responsible for social news service Newsing, which will be discontinued in March, and a customer relationship management platform, which was sold to Yahoo! Japan in 2013.

AVCJ Research data show this is MyNet's fifth round of funding. The start-up secured its first institutional round in 2007, raising an undisclosed sum from Sumitomo and Recruit Incubation Partners, the corporate venture capital arm of Recruit Holdings. The latter returned for two more rounds in 2008 and 2009.

More recently, in early 2014, the company received backing from gaming giant Sega Networks.

According to a release, MyNet will use the new funding to hire staff and acquire game titles from other developers. The money will also go towards the company's new outsourced growth services business, which launched last May and helps mobile app developers boost user numbers and revenue.

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