watAgame Secures Second Round Financing
Copenhagen, 27th of October 2005
Developer and publisher of mobile games, watAgame ApS (www.watAgame.com), has announced a successful second round of financing. Funding to be used for consolidating position as leading developer of community-based mobile games.
The funding is led by investor SEED Capital Denmark (www.SeedCapital.dk). SEED Capital Denmark - with a capital base of 42 million - is the largest venture fund in Denmark within the pre-seed and seed segment, providing funding for high-potential companies.
Jakob Steen Jensen, Investment Manager of SEED Capital Denmark, says: "The company is in the process of scaling business exceptionally well as they have grown to become a world-leading player in the emerging market for community-based gaming for mobile handsets".
Financing is also contributed to by private investors and Vaekstfonden (www.Vaekstfonden.dk), one of the largest VCs in Denmark. Vaekstfonden, total capital base 300 million, is an investment company providing funding for fast growing Danish companies.
"We find that watAgame represents a promising business platform in a very potential market", says Investment Director Ulrik Ankerstjerne of Vaekstfonden.
watAgame intends to utilize the new funding to increase development of new product lines in addition to expanding global operations both in terms of distribution in new markets and also by providing key product marketing initiatives.
Henrik Riis, watAgame CEO, says: "We are grateful for the support of both our new and existing investors. We firmly believe the market for mobile, community-based concepts will see tremendous expansion and innovation, and we are very pleased to have the funding necessary to pursue our ambitious objectives".
About the company
watAgame is an independent developer founded in 2003, and currently delivers its popular community-based concepts to more than 40 countries throughout the world.
watAgame has developed Era of Eidolon (www.EraofEidolon.com) - a mobile games community, which today is considered one of the most advanced in the world. The community has an ever increasing number of committed gamers that meet each other in a cross-global battle for honour, prestige, and cybergold. Era of Eidolon has received numerous top reviews including the prestigious 'Ice Cold Award' from Mobilegamefaqs (www.MobileGameFAQs.com).
Future releases from the company include an innovative community concept designed specifically for girls as well as a series of multi-player games based on a popular youth entertainment brand.