Chinese Game Developer Chukong Raises $50M

Chinese Game Developer Chukong Raises $50M

The mobile-game publisher Chukong Technologies, responsible for iOS releases likeFishing Joy and making the popular Cocos2D-x development engine, revealed that it raised $50 million in Series D funding. The company revealed that it was generating $12 million in monthly gross revenue this August, and this round of funding brings its total to $83 million to date.

More than 400,000 developers use Cocos2D-x including Zynga, Gameloft, and Konami. Studios use the engine to build games for iOS, Android, Windows, Mac, and HTML5.

Chukong declared that it will use the funds to expand its mobile-game development and publishing. It also plans to use some of it in improving the software tools it uses to make games.

“We welcome the continued support from our existing investors, as well as from New Horizon Capital,” Chukong chief executive Haozhi Chen said in a statement. “Their investment is a strong endorsement of our past achievements and great confidence in our future growth potentials. We look forward to building a more exciting chapter of Chukong Technologies with our strategic investors.”

Through their network, they reach about 63 million monthly active players and about 11 million daily actives. About 90 percent of their players are from mainland China and the company’s flagship title Fishing Joy makes up the bulk of that.

“With the proliferation of smartphones across China and countries worldwide, we see a significant opportunity not only to publish polished games and entertainment content but also to provide tools for developers to access emerging mobile platforms and overcome challenges caused by device fragmentation,” said Chen. “There is a bigger play here than offering discrete mobile game experiences, and that’s what we’re going after.”