Daylight Studios raises $704k funding in series A round

Daylight Studios Logo

Independent game developer Daylight Studios, a studio based in Singapore, has successfully raised $704,000 in a series A funding round led by Raffles Venture Partners and various angel investors. Amongst the angels is former Singtel Chairman Koh Boon Hwee, who previously invested in Singaporean gaming peripheral maker Razer. More recently, Koh invested in the seed round of Singaporean startup Sugar.

Its post-seed funding round resulted in it raising $660,000, while its seed round raised $216,000. This brings the total investment to date in Daylight Studios at $1.5 million. The latest round of funding going towards developing new original gaming IP for the PC and establishing Quest Drop, a mobile publishing subsidiary, in Singapore and Bangkok.

With the creation of the PC gaming IP – Holy Potatoes! – being its first venture in the PC gaming space, it has successfully completed the Steam Greenlight process, where a community of users votes and vets a game for release as a retail product on the Steam platform.

According to the Steam website “Developers post information, screenshots, and video for their game and seek a critical mass of community support in order to get selected for distribution”. According to Tech in Asia, most games take a year to generate enough support for a release. However, Daylight’s IP achieved this goal within a week.

The studio also plans for Quest Drop to bridge the gap between international game publishers and the gaming consumers in ASEAN markets, with the aim of establishing an ecosystem of partners who can self-publish using Quest Drop and distribution and support network.

Related Story: Sugar raises $720k seed round, plans HK expansion

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.