Indonesian gaming co Agate Studios raises $1m from Maloekoe Ventures

Indonesian gaming development company Agate Studios has announced a $1-million pre-Series A round led by local venture firm Maloekoe Ventures, according to a report.

Set up in 2009, Agate Studios will use the funds to grow its presence in two categories: serious games and entertainment games, and come out with additional categories to operate out of.

Even though it claims to be maintaining profitability in those two divisions, Arief Widhiyasa, CEO, Agate Studios, feels that the firm isn’t “growing fast enough and requires strategic capital.”

Previously bootstrapped, the company has developed over 200 titles to date. The games are launched across platforms, including Symbian 3, J2ME, BlackBerry, Flash, and the web.

Founded by a team of 18 people, the company currently employs around 70 to 80 people. Its most well-known title is Football Saga, a web-based football simulation game that lets users play as a newbie footballer.

As for Maloekoe Ventures, this seems to be its first publicly-disclosed investment. Founded by Adrien Gheur, who is also a Managing Partner at Maloekoe Ventures, the firm also lists Indonesian e-commerce company Bizzy and Summit Medical as a portfolio companies.

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