News of yet another gaming site investment has hit the wires in Asia with the recent $21.5m (CNY130m) series B round of funding for Joyme.com, a gaming portal for enthusiasts.
The deal was led by Fosun Venture Capital Investment, the eponymous corporate venturing unit of the Chinese industrial group. Other investors that took part in this round included existing backer, BlueRun Ventures. Both investors have invested in the gaming sector before. In 2011, BlueRun Ventures also invested several million dollars into the start-up, according to a TechNode news report.
Joyme.com founder Chen Yang told TechNode that the proceeds from the most recent funding round will be used to grow the team and expand its content. It will also be used for branding purposes. Yang also said that the business will be rolling out a new development strategy next month. The new approach will give players, developers and distribution platforms with comprehensive service, the report said.
Founded in 2011, Joyme is a gaming community which provides products such as game guides, gaming information and mobile apps. The company is now run by a 100+ member team headed by Chen Yang, former lead producer of EA China.
Other corporate venturing deals in this space include Perfect World, and LineKong, both backed by Fosun.