US-based games developer Funzio, backed by two corporate venturing of US-based media company International Data Group, is reportedly looking to raise $50m.
The company was looking to raise the money at a $350m valuation, news provider TechCrunch said yesterday.
IDG Ventures (San Francisco) and IDG Capital Partners (China), two corporate venturing units of IDG, co-led Funzio’s $20m series A round last year. Phil Sanderson, managing director of IDG Ventures, joined Funzio’s board.
Funzio’s games include Crime City (pictured) and it was founded in 2010.