Additional funding round brings total Series A investment to $13.6 million
Game ecosystem platform GXC announced that it has raised an additional $9.1 million in Series A funding. The round follows a $4.73 million Series A investment that took place in April of last year. The funding was led by KNET Investment Partners LLC., with participation from Korea Development Bank, Tiger Asset Management Discretionary Invest, Vision-Creator, and Megazone.
GXC is the tech-based holding company of game service platform G.Round and gaming accelerator program Global Top Round (GTR). G.Round is a community-based tool that helps development studios refine and polish their upcoming video games with market-data feedback. Since its release in July 2020, about 235,000 gamers in more than 240 regions have actively used the platform. The GTR accelerator chooses ten gaming startups from around the world every year, and actively supports their growth with investment, networking, and guidance with the goal of reaching publishing deals with the world’s leading industry partners. GTR has already invested in more than 55 game companies in the United States, the UK, Brazil, France, Germany, Finland, Sweden, Italy, Korea, Malaysia and more.
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GXC plans to use this investment to expand G.Round’s offerings which include mobile optimization, personalization, crowdfunding, and data services. GTR also plans to expand its investment in the game content business to secure content acquisition with high quality partners. Additionally, GXC aims to launch its third branch of business, which will be a data-driven VC game investment fund. GXC’s new game fund will accelerate the business of fast-growing and promising game startups in the growth stage. The game fund will be invested in the gaming sector through a systematic approach based on a mix of user data from the G.Round platform and conventional evaluation methods.
“We’re accelerating the market need for video game data and community-based feedback through our platform,” said Rick Nahm, co-founder of GXC. “By combining valuable data, an investment fund, and networking, we believe we’re providing game startups with what the industry has lacked for so long – proper resources.”
GXC looks to establish a healthy ecosystem in gaming by identifying the gaps, deficiencies, and unmet needs in the sector. In a revolutionary attempt, GXC has set a tripod of a model with GTR the accelerator, G.Round the user data driven platform, and GXC’s upcoming data driven investment vehicle to provide a reasonable growth path to developers and create enormous synergy with GXC’s gaming ecosystem.
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