Chukong Technologies, a China mobile game developer and publisher, has raised $50m in a series D funding round, bringing its total fund raising efforts to date to $83m. Other investors include existing investors GGV Capital, Sequoia Capital, Steamboat Ventures and Northern Light.
The company’s breaking record monthly revenues have more than doubled this year from its Android-based game title Fishing Joy, a franchise which is now bringing in more than $6m each month from its 10 million daily active users.
Generally, the mobile game industry is very active for China and US investors at the moment, even luring in established corporate venturing and private equity players to the table. Recent significant deals in this IT segment include the 51% sale of Finland iOS developer, Supercell, the company behind the game Clash of Clans, to Japan’s SoftBank and GungHo Online for a reported $1.53bn. There are also whispers of UK games company King.com looking to float.
Chukong started with CocoaChina.com, the largest iOS developer community in China, which claimed more than 158,000 registered members as of July 2012 and 80% of which are active iOS developers.
The company raised $18m in a series C round led by GGV Capital with participation from NLV, Sequoia, Steamboat in 2012 and a $14m series B round in 2011 from Sequoia Capital China, Disney’s Steamboat Ventures and Northern Light Venture Capital. Earlier in 2011 it also raised its series A round of funding which was valued at $1.2m.