US-based gaming technology developer Razer has secured $75m in series C funding from Digital Grid, the distributed power grid technology subsidiary of IT company Hangzhou Liaison Interactive, TechCrunch reported today.
Digital Grid obtained a 5% stake, valuing Razer at $1.5bn. The investment constitutes part of a “much larger” round, TechCrunch understands, though Razer has not yet disclosed its size.
Founded in 2005, Razer produces a range of software and hardware products for gaming and virtual reality.
The company’s products include computers, wearables such as smart watches, and software such as Razer Surround, which lets users hear surround sound while only wearing stereo headphones.
Razer previously secured an undisclosed amount from Intel Capital, the investment vehicle of chip maker Intel, in 2014 at a valuation of $1bn.
IDG-Accel Fund, a joint partnership fund of media and technology research company International Data Group and VC firm Accel Partners, injected $50m in 2011.
Heliconia Capital Management, a subsidiary of Singapore state-owned investment firm Temasek, is also among Razer’s investors, though further details have not been revealed.
Razer entered a partnership agreement with computer company Lenovo, unveiling a high-end gaming PC in November 2015. The partners have not disclosed financial details of the deal.