Based in Berlin and Los Angeles, Playsnak develops VR games and publishes third party mobile games from Asia in the Western market
Global gaming company Playsnak announced that it has received a US$1.3 million seed funding from South Korean venture capital firm K Cube Ventures.
Based in Berlin and Los Angeles, Playsnak is a next-generation game company focusing on mobile and VR game development and publishing. The company publishes third party mobile games from Asia in the Western market and it also develops its own VR games.
Playsnak aims to use the new funding round to further strengthen its focus and innovation in VR and mobile.
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“Through this funding Playsnak will focus on developing and finding innovative VR and mobile games, as well as focusing on bringing the Asian and Western game market closer together and becoming a true global player in the game industry,” said Playsnak Founder & CEO Paha Schulz.
Playsnak is led by Schulz and co-founded by industry veterans with an average of more than 15 years experience in gaming and entertainment industry at companies such as Crytek, NCsoft, Electronic Arts and Nintendo.
K Cube Ventures itself is an investment arm of Kakao Corporation. It focuses on investing in ICT/SW startups (primarily in mobile, tech, and game categories), committing between US$100,000 and US$2 million per startup. By December 2015, it manages three funds worth a total of US$64 million.
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Together with Korea Investment Partner, it recently invested a US$4 million Series A into mobile lock screen advertising service Cashtree.
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