Online Developer UltiZen Raises $8M To Expand Operations

Online game developer and outsourcing firm UltiZen has raised $8 million in a series C investment round, and plans to use the funding to expand its publishing operations for web-based games and mobile games. Shanghai-based UltiZen claims to be China's largest PC game developer and outsourcer. Its games include the browser-based War of Gods and the recently-launched Princess Fury for iPhone and iPad. The company was also China's first developer to release an Xbox Live Arcade game, Crazy Mouse. The funding round was led by JAFCO Asia, with additional investment from Hotung Investment Holdings and Tokio Marine Investment Services. In a statement, JAFCO Asia director Raymond Gu expressed confidence in UltiZen's strategy over the next two years. "We are very glad to lead the Series C investment round of UltiZen Games," he said. "We believe the management team is strong and the company strategy is clear, and we are expecting rapid growth in the coming 12 to 24 months." Hotung vice president David Tso said his firm sees UltiZen as one avenue to "explore the emerging market of online web/social and mobile games." Going forward, UltiZen says it plans to release at least one game a month for the rest of the year.