Toge Productions CEO claimed to have been generating profits each year, with “no compulsion to seek immediate funding”
Indonesian game developer startup Toge Productions announced that it has raised an undisclosed amount of funding from Discovery Nusantara Capital (DNC).
In a press statement, Toge Productions CEO Kris Antoni stated that the company will use the new investment to develop and bring Indonesian games to the global market.
“Investment from DNC is not only limited to money, but also includes other strategic aspect namely network connection to the international games industry,” said Kris.
“Toge generates profit every year and last year was the best year for us. Financially, Toge is still in the green zone and there is no compulsion to seek immediate funding. Toge Productions on the contrary invests in Mojiken Studio not too long ago in a time where many startups struggle to find investment,” he added.
The company also stated that it plans to “expand their support for Indonesia’s game industry ecosystem” through collaboration programmes, though no details were mentioned yet.
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Founded in 2010, Toge Production’ portfolio ranges from web games to mobile and desktop (PC and Mac) games. Some of its most popular works including Infectonator, which had won the Best Desktop Game award at the Indie Prize Casual Connect Asia 2014.
The company focusses on building premium instead of free-to-play mobile games. Antoni said that the company were “quite surprised” with DNC’s acceptance of their decision to stay in the premium games market.
DNC itself focusses on supporting Southeast Asian gaming industry growth by financing and transferring knowledges and resources to companies in the region. It operates a US$10 million fund raised from Zhexin IT specifically to fund Indonesian gaming startups.
In December, it invested an undisclosed amount to Jakarta-based game developer Touchten, where the firm claimed that it has helped Touchten’s international expansion plan to China.
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