China-based mobile games developer CocoaChina has raised $14m in series B funding from a group of investors including Disney’s corporate venturing unit, Steamboat Ventures.
Also participating in the round were the China-based division of venture capital (VC) firm Sequoia Capital and Hong Kong-based VC firm Northern Light Ventures, the investor in CocoaChina’s $1.2m series A round.
CocoaChina, known locally as Chukong, also hosts one of China’s largest online community of game developers for Apple’s iOS mobile operating system. According to CocoaChina, about 80% of China’s iOS developers are registered with the firm.
Though primarily based in the US, Steamboat’s China division – known as Si Wei – is growing and has invested primarily in companies operating online. These include social game and media platform Douwan, massively multiplayer online (MMO) game developer Troodon and web game developer Youxigu.
CocoaChina will continue to develop games for iOS and Google’s Android operating system, but is set to expand from simple games like its hit title Fishing Joy to more complex arcade and MMO games while attempting to expand its games into the global market.