Game developer 'Aloha Factory' completes 1.4 billion won investment

Participation from Hantoo Partners-Creat Ventures, POSCO Tech Investment, and others... "Next stage of investment planned for next year"

This article was published on March 30, 2021 at 10:29 on the paid content service DealSite.

[PaxNet News Kim Min-ji reporter] Hyper-casual game developer Aloha Factory has successfully raised 1.4 billion won in investment. The secured funds will be used for diversifying game production channels and for extensive promotional activities.

According to the venture investment industry on the 30th, Aloha Factory recently issued common shares and redeemable convertible preferred shares (RCPS) to raise 1.4 billion won in investment. The investment was participated by institutional investors such as 'Global Interactive Content' (Korea Investment Partners-Creat Ventures joint management), POSCO Tech Investment, Fast Ventures, and Mashup Angels.

Aloha Factory is a company that develops hyper-casual genre games. The hyper-casual genre is a lightweight game that relies on mobile advertising as the main source of revenue. Aloha Factory is currently serving block puzzle games and draw hammer games that have simple operation methods and short operation times.

Aloha Factory has been focusing on streamlining the production process based on data and plans to release new games every month with a stable production line.

Lee Ho-jin, CEO of Aloha Factory, said, "This investment is a pre-Series A stage investment," and "we plan to proceed with the next stage of investment next year depending on the size of the revenue." He went on to say, "We have accumulated know-how for producing lightweight casual games by developing dozens of prototypes," and "with this investment, we will expand our production channels and conduct extensive promotions to grow into a leading hyper-casual game developer in the domestic and global markets."

Kim Min-ji [capmin37@paxnetnews.com]