Chinese publishing giant Yodo1 raises $11 million

Targeting Japan and Korea next

Chinese publishing giant Yodo1 raises $11 million

Chinese publishing platform Yodo1 has announced it's raised $11 million in Series B financing.

GGV Capital, a VC firm that invests in the US and China, led the round with Singtel Innov8 joining as well. New investors Pavillion Capital and Iris Capital also contributed to the round.

Earlier this year, Yodo1 - which helps western devs make a mark in the Asian market -  raised $5 million in funding to deal with the 'incessant demand' from western developers to break into China.

Go global or go home

Back in August, Yodo1 CEO Henry Fong intimated that his company was beginning to look for mobile business opportunities outside of China.

This latest round of funding removes any doubt surrounding Yodo1's strategy, and it will use the capital to focus initially on the Japanese and Korean mobile markets.

Yodo1 has established a new production studio in Seoul as the first step of this internally expansion.

While speaking on Yodo1's position after the investment, CEO Fong stressed his company's growth over the past three years.

"Our games studio partners have been quick to embrace our co-development model and have grown with us to reach an active user base of more than 90 million mobile gamers in China, up 750% from 2012," said Fong.

"Now we're ready to tackle the world with globally-tuned investors and developers who are eager to expand with us into new markets."

[source: Market Wired]

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Representing the former colonies, Matt keeps the Pocket Gamer news feed updated when sleepy Europeans are sleeping. As a frustrated journalist, diehard gamer and recovering MMO addict, this is pretty much his dream job.