Samsung Venture leads $15m round for Taiwan Ubitus
Samsung Ventures, the VC arm of Korea’s Samsung Group, has led a new round of funding worth $15 million for Taiwanese cloud gaming firm Ubitus.
The investment is closely tied to the overall strategy of Samsung Group, which will further support Ubitus' determined endeavor in advancing the cloud gaming to a new level especially in the TV market, according to a statement.
Ubitus plans to use the fresh capital to build new gaming experiences with more instant and social features that are expected to roll out in the third quarter.
"We are delighted that leading investors like Samsung Ventures shares Ubitus' conviction that making video games playing as accessible as the movie and music streaming services nowadays can forever change the way people enjoys games in the past 20 years," said Wesley Kuo, CEO of Ubitus.
Founded in 2007 and headquartered in Taipei, Ubitus deployed its first cloud gaming service in Japan in September 2011 and has been deploying commercial offerings with carriers and original equipment manufacturers spanning across the US, Japan, South Korea and China.
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