Mobile game developer Innospark has closed $6.5M in Series B financing with participation from venture capital firm Keytone Ventures (founded by the former founding managing partner at KPCB China and former partners at IDG-Accel) and from SL investment and Company K Partners Limited, as part of a larger initiative to spur the company’s growth and to continue to develop innovative mobile games. This investment comes at an important time for the studio, which has already proven its ability to self-publish games, having successfully released two popular titles for iOS and Android.
Innospark is a rapidly-growing mobile game developer based in Seoul, South Korea, whose team has launched two successful games worldwide, Hero Sky: Epic Guild Wars and Dragon Friends: Green Witch. The developer will use the funding to continue to grow its team and invest in game development to bolster development of future games and extend its global market reach. Innospark will continue to expand its portfolio beyond social games to increasingly competitive mid-core markets, such as simulation games and role-playing games. “We are very excited to participate the Innospark investment,” said Eric Tao, partner at Keytone Ventures. “The company has demonstrated world class game development and operations capability. With the rapid growth of the mobile games industry, we believe that Innospark will become a significant player in the global market.”
“This is an important next step for Innospark,” said CEO and Co-Founder Jae Chan Shin. “This investment is a starting point for Innospark to build a long-term business partnership with Keytone Ventures as well as SL Investment and Company K Partners Limited. This will lead Innospark to not only penetrate the Chinese market, but also succeed in the global market. Also, it will be helpful to accelerate our development process for multi-screen platforms.”
Source and more Information: Innospark