Yodo1, a China-based provider of mobile game co-publishing services and a games-as-a-service platform, has raised $11m in series B funding led by US-based venture capital firm GGV Capital. Funding participants included existing investor Singtel Innov8, the corporate venturing unit of Asia-based communications company, SingTel Group; new investor Iris Capital, a France-based venture capital firm which manages strategic investments for Saudi Telecom, France Télécom and Publicis Groupe; and Pavillion Capital, also a new investor.
The funds will be used to expand Yodo1’s co-publishing model into the rest of the world, especially Japan and Korea, considered the best markets for mobile game monetization.
The company has raised $18m since its founding in 2011, including a $5m series A funding round led by Singtel Innov8 and including Chang You Fund in 2013, and $2m seed funding from Chang You Fund in 2011.
Yodo1 produces and localizes foreign games for the domestic Chinese market, including Cut the Rope, Powder Monkeys and Ski Safari.
Henry Fong, Yodo1’s co-founder and chief executive, said: “Our games studio partners have been quick to embrace our co-development model and have grown with us to reach an active user base of more than 90 million mobile gamers in China, up 750% from 2012. Now we’re ready to tackle the world with globally-tuned investors and developers who are eager to expand with us into new markets.”