Red Dot Ventures, a venture capital firm with focus on early-stage high-tech startups, has just invested S$839,000 in gaming company Daylight Studios.
Red Dot Ventures, a venture capital firm, has just announced its investment in Daylight Studios, a Singapore-based mobile social gaming company. The investment round of S$839,000 (around US$660,000) was led by Red Dot Ventures with the National Research Foundation Singapore and several other investors.
Daylight Studios’ main focus would be to develop role playing games (RPG) on the mobile. The mobile gaming market has been growing rapidly, which is backed up by a recent IDC report noting that worldwide mobile and portable game software will hit US$12 billion in 2013. Leslie Loh, managing director of Red Dot Ventures also added that there has been an annual growth rate of 19 percent for smartphones and 48 percent for tablets when it came to mobile gaming as a growth sector in the infocomm technology industry.
Having forged close working relationships with international marketing and publishing partners for effective distribution of its games to its target markets, the company with a team of 20 has also recently signed a publishing deal with Marvelous AQL Europe for its upcoming social RPG title, Conquest Age. They are also in talks with new publishers and partners to move its games across Asia and beyond. Based in Blk71, the famous entrepreneurial hub of Singapore, Daylight Studios is also an incubatee company of NUS Enterprise.