Chinese game developer CocoaChina has raised $14 million in a second round of Series B funding, as a means of expanding its mobile games portfolio into other genres and building on its freemium monetization model.
The company raised the money from Sequoia Capital China, Disney’s Steamboat Ventures and Northern Light Venture Capital, reports news site
It had previously raised $1.2 million in Series A funding from Northern Light.
CocoaChina's current hit iOS and Android title Fishing Joy
has seen over 10 million download since it launched four months ago, and is one of China's top grossing mobile titles.
It also hosts one of the most popular and active iOS community in China, and will be using part of the new series of funding to advertise its community and expand its appeal even further.
Numerous other iOS developers are also looking to cause a stir in China. Earlier this year, Angry Birds
developer Rovio announced a partnership
with Chinese mobile ad network Madhouse, as a means of expanding the hit game's presence in China.