Sections

KLab raises $9.3 million from new investors

Japanese mobile firm raises capital from two sources, poised to start marketing push

The Japanese mobile developer KLab has raised $9.3 million from new investors.

According to the market analyst Dr. Serkan Toto, the money is from two sources: 660 million from the VC firm Oak Capital Corp., and 270 million from a deal with Hakuhodo, one of the most influential marketing and advertising companies in Japan.

The money will principally be used to promote KLab's games - the most famous being the card-battle title, Lord of the Dragons - a matter on which Hakuhodo is well positioned to offer advice.

And the investment is timely for KLab, which has struggled over the last year: for the period between September 2012 and May 2013, the company recorded a loss of $7.7 million.

According to Toto, KLab's stock-price rose 24 per cent in the hours following the announcement.

Related stories

Nordeus: The difficult second game

Branko Milutinović on making only the second game in the company's history, Spellsouls, and the imminent AAA age for mobile games

By Matthew Handrahan

Sweeney: App stores are "pocketing a huge amount of profit" at devs' expense

"We should be angry about this, and we should constantly be on the lookout for other solutions, and new ways to reach gamers."

By James Batchelor

Latest comments

Sign in to contribute

Need an account? Register now.