Chinese social gaming vendor Happy Elements announced today raising US$ 30 million in Series B round of funding from Legend Capital with previous investor DCM participating. The funding, according to its CEO Wang Haining, will go towards team beef-up as well as R&D speed-up.
Founded in 2009, Happy Elements which is a top-ten gaming vendor on Facebook platform over the past two years operates in both Beijing and Tokyo. The company has been making gaming titles distributed through 15 of the world’s most popular social platform, including Facebook, Tencent Pengyou, Tencent Qzone, Mixi, Gree, Cyworld, Daum, StuVZ, Kaixin001, RenRen and so on. It claims to own 2.5Million daily active users on Facebook, the #2 and #3 popular games on Mixi in Japan.
The Beijing-based company has also extended its reach into new territory by unveiling three mobile titles in Japan.
Happy Elements raised US$ 5 million from DCM in middle 2010.
The social gaming giant now boasts a payroll of over 300. ”Our foreign peers have done a great job in terms of product marketing and user behavior researching, and we’re also working hard on these forefronts. We believe that we’re fully capable of becoming the Chinese Zynga” said its founder and CEO Wang Haining.
I think you may have confused RMB figures for USD figures or something like that: the reported B round funding was USD 30 million, after an A round of USD 5 million. Not USD 300 million or even USD 500 million in their A round.
tks for the correction, updated already 🙂