Toge Productions, an Indonesian indie game developer studio, announced today that it has received an undisclosed amount of funding from Discovery Nusantara Cpital (DNC), the investment arm of China-based game company Zhexin IT Co.
The early-stage funding will be used to accelerate growth, and help in bringing “high quality games from Indonesia to the global market”, according to Toge’s management team.
“Investment from DNC is not only limited to money, but also includes other strategic aspect namely network connection to the international games industry,” said CEO of Toge, Kris Antoni, in a press statement.
Antoni stated that the funding will undoubtedly help Toge strengthen its foothold in the Indonesian game industry.
“We want to change the world’s perception that Indonesia is only a market of consumers. We want Indonesia to be recognized as a country that produces world-class games,” he added.
Zhexin IT, DNC’s parent company, was established in 2010 as a game maker firm with only four staff. Since then, the company has grown to employ 260 workers and has a market capitalization of $4 billion. Zhexin IT’s shareholder is Zhejiang Jinke Entertainment Culture, which announced a partnership with Project Discovery Ltd to create DNC.
Last year, DNC also invested in Indonesian mobile game developer Touchten, which is known for games such as Target Acquired, Warung Chain: Go Food Express, and Rapstronaut. It participated in a series D funding round for Touchten along with other Chinese investors.
DNC had previously announced a $10 million fund to invest in games companies in Southeast Asia with a focus on Indonesia.
“When we look at the Indonesian market, we see many players that are just like the way we were in 2010,” Irene Umar of DNC had said. “So we would like to help these players grow–not only by giving funds, but also by transferring accumulated knowledge, experience, and resources for fellow gaming industry players. Through DNC, we want to create a positive impact in Indonesian gaming industry.”