China-based game console maker Fuze Entertainment has raised $60m in funding from backers including game developer LineKong, conglomerate Fosun and publisher International Data Group (IDG), Technode reported yesterday.
Fosun invested through its corporate venturing unit Fosun Ventures, while IDG contributed funds through IDG Capital Partners, its local venture capital affiliate. VC firm Northern Light Venture Capital also participated in the funding.
Fuze is developing a game console dubbed Zhanfu, though it is yet to publicly reveal details of the product, which is still in testing.
The company expects to unveil Zhanfu by the end of 2015, and aims to release about 100 games for the console in the year following its launch. It is currently also in the process of creating a developer platform that will provide funding, hardware, game centres and access to gamer communities.
The funding will enable Fuze to develop games and acquire users, and it is targeting between $100m and $200m for its next funding round, CEO Wang Feng told Technode.