Mobile game studio Pocket Playlab from Bangkok received $5 million investment. This is reported by the Tech in Asia resource with reference to information from the company.
The funds came from the Monk’s Hill Ventures venture capital fund, which specializes in the Southeast Asian market.
The company will spend the funds on expanding the team and on development. The priority direction will be the Asian market. Studio CEO Jacob Lykkegaard notes that the studio previously considered Western markets as the main source of revenue. However, now the plans have changed. Lyukgard hopes that with the help of investments, the company will be able to become a major player in the local mobile gaming market.
The amount received was the first external investment in the history of the studio. Playlab was founded in 2012, and until that moment it existed at its own expense and on the proceeds from games. The title title of the team is the game Jungle Cubes – shareware match-3. Initially, the project was published by Rovio, but then the studio itself became the publisher of the game, which required it to be completely restarted.
A source: https://www.techinasia.com