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Chinese mobile gaming company formerly called CocoaChina raises $50 million

Chinese makers of Fishing Joy raise $50 million in funding

Chinese mobile gaming giant Chukong Technologies – formerly called CocoaChina – revealed today it has secured $50 million in series D funding led by New Horizon Capital with participation from existing investors GGV Capital, Sequoia Capital, Steamboat Ventures, and Northern Light.

Chukong first started with CocoaChina.com, which houses China’s largest iOS developer community. The company also comprises PunchBox Studios, PunchBox Ad Network, and Cocos2d-x Game Engine. It also helps developers to distribute games in China. CocoaChina changed to the Chukong branding earlier this month, according to its Twitter account.

Punchbox’s biggest game is Fishing Joy which in March this year generated $6.28 million in monthly revenue with more than 10 million daily active users (DAU).

Chukong is based in Beijing with offices in Tokyo, Seoul, Taipei and Menlo Park, California and claims to be generating $12 million in monthly gross revenue this August.

The company secured $1.2 million in first round funding (back in early 2011), followed by $14 million series B and $18 million for series C.

Note: This is cross-posted to our sister site, GamesinAsia.

(Editing by Steven Millward)


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