Fuze Entertainment, a Chinese game console maker founded by Wang Feng, CEO of game developer LineKong, has announced $60 million USD in funding from a consortium including IDG Capital, Northern Light Venture Capital, Fosun Ventures and LineKong. The company has a core team coming from Huawei, NVIDIA, Microsoft, TCL and Tencent.

The new funding is primarily earmarked for new gaming content and user accumulation, said Wang. He added that they are looking to raise between $100 to $200 million USD in the next round.

The Chinese government has been slowly easing restrictions on game console industry since 2014 after a ban that laster over a decade. They first allowed companies to sell and manufacture on the mainland provided that they have headquarters and factories within Shanghai‘s special economic zone. They then eliminated all previous restrictions on how these companies can operate in China, allowing them to set up shop anywhere.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.