Singapore-based mobile gaming company Nubee announced the completion of its first round of funding of 1 billion Japanese Yen (approximately $13 million) from Japanese VC firm JAFCO Co. Nubee is a wholly owned subsidiary of Vega Corporation, an e-commerce company selling furniture.
Nubee’s first social game – Japan Life was downloaded 2.5 million times in 2.5 months and has gained No.1 ranking in China’s App Store in August as well as high rankings in US and Japan.
“With this funding, we can now scale up even faster and wider. We have found our strengths in social games and will continue to focus on developing more social games for the world,” commented Tomokazu Ukishiro, CEO of Nubee and Vega Corporation.
“We see a huge market potential for Nubee’s global business strategy for social games on smartphone devices. We also like their unique monetization model which, we believe, is gained from their experiences in Vega’s success in the competitive e-commerce market in Japan,” added Shinichi Fuki, president and CEO of JAFCO.
Nubee was founded in November 2010 and develops freemium mobile games. Currently, the company’s catalogue encompasses 8 titles such as Japan Life, Coin Pirates and Coins VS Zombies.