Gobi Partners invests S$1 million (US$0.78 million) in Corous360 Pte. Ltd. in its efforts to prepare to scale up in Southeast Asia and further enhance its cloud-based gaming platform offerings.
Corous360, a Singapore-headquarted games cloud company with clients from the various Southeast Asian markets, has just raised a S$1 million dollar round from Gobi Partners, a venture capital firm based in China. Corous360 offers a cloud-based gaming deployment platform which consist of three major components: the Games Cloud infrastructure ; a Unified Payment Infrastructure and a Gamers Community Portal. The new round of investments will help Corous360 capture the highly potential Southeast Asia market.
Read below for the full press release:
SINGAPORE (2 July, 2012) – Gobi Partners announced today that it has completed a SGD$1 million round of equity funding in Corous360 Pte. Ltd.(“Corous360”), a Singapore-headquartered games cloud company targeting the Southeast Asian market. Corous360 is a subsidiary of DeClout Pte. Ltd, a holding company that comprises a group of leading IT and cloud service providers in Southeast Asia.
Mr Kay-Mok Ku, general partner of Gobi Partners Singapore, will be joining the board of Corous360. “The online game market in Southeast Asia is under-penetrated compared to China. Although the total population of Southeast Asia is almost half of China, its game market is less than one-tenth of China,” said Kay-Mok. “This is probably due to the fragmented and heterogeneous markets in Southeast Asia. With the advent of casual online and mobile games, which are more universally appealing in nature, we believe that there will be room for a unified, cloud-based game publishing platform to allow publishers and developers to deliver their games directly to Southeast Asia, and we believe Corous360 is well-positioned to take advantage of this emerging trend.”
“Gobi Partners has always been staying ahead of the technology curve and investing in and grooming many successful technology and media startups over the last decade. We are excited to have such a strategic partner on board with an invaluable experience and know-how in the Interactive Digital Media industry in Asia. Gobi’s strong network in China can complement Corous360’s efforts in enabling online game publishers and developers to self-publish games in Southeast Asia,” said Winston Koh, CEO of Corous360. “This round of financing will enable us to accelerate our regional expansion plans as well as enhance our service offerings to publishers, developers and gamers.”
Corous360’s core offering is a cloud-based gaming deployment platform that will consist of three major components: the Games Cloud infrastructure that provides a highly scalable platform for direct deployment of game titles into the Southeast Asian markets; a Unified Payment Infrastructure that offers a one-stop solution for game publishers to access different payment methods and distribution channels; and a Gamers Community Portal that serves as a one-stop platform for gamers to interact with one another and access relevant services and games content.
“We believe we are one of the first in the industry to offer a unique platform which marries the business needs of publishers and developers with the gaming and interactive needs of core and casual gamers,” said Kelvin Tay, Corous360’s Business Development Director in Asia-Pacific. “With an all-rounded team comprising experienced top management, IT veterans and creative and innovative gaming talent, our company has both the dexterity to adapt in the fast-changing online games industry as well as strong execution capabilities to deliver on our business plans.”
About Corous360 Pte Ltd
Corous360 is the leading independent online games cloud service provider in Southeast Asia that offers an integrated suite of end-to-end services to enable game developers, publishers and gamers to converge on a common platform and interact in a single community. Leveraging on its wealth of experience in deploying enterprise IT, supported by a professional team of industry experts, Corous360 offers its partners and customers a new dimension of value and support in the growing and dynamic industry of online gaming. By revolutionising the way online games are being operated, Corous360 helps lower operation costs and minimise business risks for game developers and publishers while enhancing gamers’ experience through its regional connectivity set-up across Southeast Asia. Additionally, Corous360 serves as a one stop shop for game publishers and developers looking for a platform which can effectively help them expand into Southeast Asia.
About DeClout Pte Ltd
Established in 2011, DeClout’s vision is to nurture a successional generation of high growth domain clouds through leveraging on its existing complementary IT infrastructure businesses. By building domain-specific cloud verticals, DeClout’s group of companies provides a secure and convenient on-demand computing platform to converge various industry players into a common community, serving their wide range of communication, collaboration, interaction and transaction
needs. Backed by stellar track record and deploying only industry best-practice technologies and processes, the DeClout group strives to be the next generation business partner to companies today.
About Gobi Partners
Founded in 2002, Gobi Partners is a venture capital firm with its headquarters and incubation center in Shanghai, additional offices in Beijing, Hong Kong, and Tianjin, as well as an overseas office in Singapore. A leading investor in early stage digital media and technology companies in China, Gobi manages four funds with over US$300 million under management. Since its establishment, Gobi has funded more than forty early to traction stage companies and continues
to invest actively in the region. Gobi brings additional value to its entrepreneurs by providing access to and leveraging the networks and resources of key strategic investors which include: IBM, McGraw-Hill, Nokia Growth Partners, NTT DoCoMo, Sierra Ventures and Steamboat Ventures. Government partners also include the Shanghai Pudong Science and Technology Investment Company, the Tianjin Hi-Tech Group, and the Singapore Media Development Authority (MDA).