Pretty Pet Salon Maker Animoca Raises Funding From Intel Capital, IDG-Accel
Animoca, the prolific Hong Kong-based developer of literally more than 150 apps across the iOS and Android platforms, said it took a first round of venture capital funding from Intel Capital and IDG-Accel. The size of the round was not disclosed.
The company, which we’ve profiled before here and here quickly made a name for itself after starting a mobile apps division in January. Animoca is a spinout of Outblaze Limited, a 13-year-old company which says it creates cloud computing services for digital media companies. The mobile division started up at the beginning of the year had quickly passed 21 million downloads with 30 to 40 employees by the middle of the year. It’s nearly doubled now that with more than 40 million downloads. With this funding, Animoca becomes a separate company.
Animoca has the ability to churn out two or three apps a week. Unlike other developers, which concentrate on a few franchises, Animoca’s revenues accumulate from a broad portfolio of titles.
Based in Hong Kong, the company is also better positioned than Western developers to cater to an emerging base of Chinese smartphone owners (which are now Apple’s biggest source of revenue behind the U.S.) Animoca will use the funds to continue growing its apps business.
“In just ten months we have built Animoca into one of the – if not the – largest app game companies in this part of the world,” said David Kim, Animoca’s chief executive in a statement.
Animoca isn’t Intel Capital’s only play in mobile gaming. The fund led a $23 million investment in Crowdstar with Shanghai’s The9 in May. It also went in on OpenFeint with $3 million in October of last year and owned a 10.7 percent stake in the company at the time of its sale to GREE, giving it a more than 3X return.