Touchten, Indonesia’s gaming studio has bagged a series C round of funding traversed by Japanese social firm Gree in association with US based 500 startups. The gaming giant has secured its previous funding rounds from Ideosource and cyberagent ventures. The recent financing will be spent on appointing more workforce and in merchandising new products in the market. According to previous investments, recent trends show that incubators are making humongous investments in the South East Asian market indicating potential growth and rising economies.
Indonesian gaming studio Touchten secures additional funding from GREE Inc, 500 Startups.
Indonesia-based gaming studio Touchten revealed that it has secured a Series C round led by Japanese mobile and social firm GREE Inc, with US-based 500 Startups as a follow-on investor.
The investment amount remains undisclosed, media reports said.
Founded in 2009, the company first raised its Series A round of funding from Indonesian incubator and venture capital firm Ideosource and Series B round of funding from Japanese venture capital firm CyberAgent Ventures. It remains undisclosed how much money Touchten has raised to date.
Anton Soeharyo, CEO of Touchten, said the new investment will be spent on hiring and marketing its offline-to-online platform and games. The firm currently has 35 people, and is looking to double that by Q1 2016, according to a report in e27.
Soeharyo added that Touchten titles have garnered more than 12 million downloads worldwide. About 1.5 million downloads can be attributed to Indonesia. Its best game for the Indonesian market is Teke Teki Saku, which he claims has bagged more than 800,000 users, followed by puzzle game app Dagelan, which supposedly hit the 400,000 users milestone within one month.
In the coming year, Soeharyo and his team will be working with GREE to release the latter’s casual game titles in Indonesia through Touchten.
“Southeast Asia is a market they (GREE) want to go to, and if the timing is right, they are looking to enter the market,” said Soeharyo. “They feel that they need to go to the ‘biggest’ market which is Indonesia, but prefer to invest in (a) company that they know have potential. And they chose Touchten.”
To date, GREE Inc has invested in multiple Asian companies including Japan-based news app companySmartNews and last-minute hotel booking company HotelQuickly. Its investments should not be confused with those of its venture capital arm GREE Ventures, headed by Yusuke Amano.
(Source: Deal Street Asia)