South Korea-based mobile game studio Haegin raised KRW100bn ($82.4m) yesterday in a series B round featuring internet companies Kakao, NetEase and VNG, game developer Netmarble and financial services firm KDB Industrial Bank.
The round was filled out by Neptune Asset Management, Lotte Ventures, Storm Ventures, Kona Venture Partners, Alois Ventures and Bon Angels Venture Partners, while Kakao’s investment came through video game subsidiary Kakao Games.
Haegin has developed mobile games and its most popular title, Play Together, is a metaverse game where players can customise their character and space as well as participate in mini-games and other activities. It surpassed 100 million global downloads earlier this month.
The funding will be used to further develop Haegin’s technology, grow its team and expand its business as it gets ready to launch two new sports titles later this year.
The company raised approximately $7.5m in 2018 from investors including Netmarble-Kona Fund, a VC fund backed by Netmarble, in addition to internet and video game group Tencent, mobile game developer Devsisters, Storm Ventures and Bon Angels Venture Partners.
Young-il Lee, Haegin’s CEO, said in a statement: “With this investment as an opportunity, we will strengthen the services of our main line up such as Home Run Clash, Overdogs, Extreme Golf and Play Together and spur the development of two new games to become a global game company.
“We will do our best to leap forward. We will do our best to lead the realisation of a more enjoyable and exciting metaverse world, rather than being satisfied with being the No. 1 casual metaverse platform in the competitive metaverse platform market.”
Image courtesy of Haegin.
