Ranida Games secures VC investment from Discovery Nusantara Capital
Philippine-based studio will develop basketball engine and create games for the international market
The Philippine-based studio Ranida Games is preparing to break out of the Southeast Asian market, thanks to investment from the Indonesian VC firm Discovery Nusantara Capital.
The value of the investment was not disclosed by either party, but this is DNC's first investment in a company in the Philippines. According to co-founder Irene Umar, Ranida's founders share DNC's ambition, "to grow the ecosystem and present local culture to the world."
Ranida Games was founded in 2015, and has built a strong local business through Filipino-themed games, the best example of which is the basketball game PBA Philippine Slam. The engine for that game has also been used to create similar games for Thailand and Vietnam, and the company intends to further develop the tech with DNC's investment.
"DNC's experience and game industry connections will bode well for us as we embark on creating more engaging and interactive story lines with an international appeal," said Ben Joseph Banta, Ranida's CEO and co-founder, in a statement.
"We initially developed games for the local market because we wanted to establish our business locally and build a local user base while we're also growing our team," added co-founder Walter Manalo. "We are moving towards the goal of bringing world-class content to a wider market."