Japan's BrainWars app raises $2.8m in VC funding
East Ventures, Skyland Ventures, Genuine Startups and Line Ventures, the VC unit of messaging app firm Line Corp, have together invested JPY300 million ($2.8 million) in TransLimit, the Tokyo-based start-up behind social quiz app BrainWars.
Launched in March this year, BrainWars pits players against one another in a series of mental exercise games in real time. As the games require no verbal response, users around the world can play and compete against one another.
Line Ventures manages the JPY100 billion Line Game Global Gateway fund, which was set up earlier this year to invest in Japanese game developers. Coinciding with this fundraising round, TransLimit has secured a partnership with Line to launch a new game for its messaging app.
Line has become an increasingly active VC player this year as it looks to back companies that can add to its mobile app ecosystem. In August, the company agreed to acquire a less than 10% stake in Japanese game developer Gumi.
More on North Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.