TouchTen just sent an official statement that it has completed its Series B financing round led by Japanese investor CyberAgent Ventures. The news is kind of old, as we confirmed that TouchTen is already a portfolio company of CyberAgent Venture at our very own Startup Asia Jakarta conference last month.
In this press release, however, CyberAgent Ventures lists three reasons why it invested the Indonesian gaming company. Basically, CyberAgent Ventures is betting on the potential of Indonesia, its game market, TouchTen’s latest gaming platform, and its team. Suzuki Takahiro, head of CyberAgent Ventures Indonesia, explains:
First of all … smartphone games in Indonesia and the region have yet to fulfill their potential. Looking at the US and Japan as benchmarks as developed nations, we strongly believe that given time Indonesia will follow suit in the near future.
Secondly we believe in the solid TouchTen team that has years of experience accumulated in planning, designing, developing, and marketing smartphone games.
Which leads us to the third point: with such a wealth of experiences we believe that TouchTen, with its game-making ability, could build a successful casual games platform for smartphones. We also believe that this platform can be adopted into other emerging markets in the future.
The TouchTen team also revealed that its latest game Ramen Chain now has over one million users. The team has also produced other popular games such as Train Legend, Infinite Sky, as well as working together with legendary Brazilian footballer Zico to create a game together. Interestingly, most of its games are more popular abroad than in Indonesia.
The Indonesian gaming company also aims to become a game publishing platform, and has tied up cooperation with Singapore-based loyalty app Gimmie to monetize better in Indonesia.
TouchTen first got its seed investment from local investor Ideosource back in 2011. As for CyberAgent Ventures, TouchTen becomes the first gaming startup in its portfolio in Indonesia. Prior to this investment, CyberAgent Ventures had also invested in local e-commerce sites Tokopedia and Bilna.
“This has been a fantastic year for us, we have been in talk with CyberAgent Ventures for more than 2 years, finally it has become a reality. We believe that CyberAgent Ventures will bring their enormous wealth of know-how and help us build a sustainable game company,” said Anton Soeharyo, CEO of TouchTen.
(Editing by Charlie Custer and Willis Wee)