US-based gaming hardware maker Razer has raised a series C round that values it at US$1.5 billion, according to a report by TechCrunch. In a 2015 results report by China’s Hangzhou Liaison Interactive, translated by Reuters, the company says it plans to invest US$75 million in Razer, which is just part of the overall series C.
TechCrunch figures that Digital Grid’s (a subsidiary of Hangzhou) participation in the round signals a turn toward virtual reality (VR) and smart technology for Razer. That certainly seems to jive with comments made by Razer founder and CEO Min Liang Tan during his AMA session with Tech in Asia about the company working with the Open Source VR community. At the time, Min Liang said Razer doesn’t plan to launch VR hardware for now.
Although Razer remains steadfast to its “by gamers for gamers” motto, it has embraced wearables with products like the Nabu smartband and the Nabu smartwatch, accessories like the Stargazer webcam, and lifestyle products like Razer-branded apparel. A shift to a more diversified product line that maintains the gamer lifestyle identity it’s known for would seem to serve the company best.
Intel had participated in the company’s last funding round in October 2014, then at a valuation of US$1 billion.
Source: TechCrunch
Editing by Terence Lee
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