Chinese mobile games firm takes $20m funding

Chinese mobile games firm One Net Entertainment has secured a $20 million funding round from IDGVC Partners and Infiniti Capital.

Brace yourself, for this one's a bit complex. The investment has been made through One Net's parent company Leo Technology, which is itself a subsidiary of China TechFaith Wireless Communication Technology.

One Net runs the gaming sites 798uu.com and 798game.com, with the former focusing on mobile gaming, and the latter targeting the PC market.

"One Net Entertainment has quickly established itself as a competitor to be watched in the wireless mobile phone gaming and PC online gaming markets," says TechFaith chairman and CEO Defu Dong.

"With this $20 million investment, we expect to be able to execute on our growth strategy and pursue game development and publishing opportunities to even further accelerate One Net Entertainment's growth prospects."

The rollout this year of 3G networks in China holds plenty of potential for mobile gaming, so it's no surprise to see new investment in local developers.