Mobile game startup Caret Games raises USD 28M from Softbank Ventures and SL Investment

Caret Games recently announced that it has raised USD 28 million from Softbank Ventures and SL Investment.

Caret Games was established in 2015 and developed a mobile massive multiplayer online role playing game (MMORPG), called “REBIRTH: Shadow of Salvation,” which it formally launched on December 15. It is now available to be downloaded on the Google Play Store, Apple App Store, and One Store. Caret Games also aims to expand further into global markets.

Caret Games is made up of a team of renowned game developers who have been recognized for their achievements in the industry. With expertise in game design, the company developed a mobile MMORPG game by itself, a nearly impossible feat for a startup.

Before the investment from Softbank Ventures and SL Investment, the company’s value was estimated at USD 9 million by IBK Capital and at USD 14 million by the Association of Individual Investment. The company had raised millions in funding before the latest round, and they also crowd-funded almost USD 0.3 million, an achievement that drew a lot of attention from the gaming industry.

Eugene Chang, partner at Softbank Ventures, said: “As high-quality games can now be operated on mobile devices, MMORPG will grow in popularity in the mobile game market. Caret Games allows a large number of people to play at the same time and provides different services than other PC MMORPG game providers.”

Hoyong Son, founder of Caret Games, stated: “We tried hard to deliver the feeling of PC games in our mobile games to achieve the best results. We received good feedback when we were testing the game. We hope people are looking forward to our game: “REBIRTH: Shadow of Salvation” since we made a put in a lot of effort for our users and investors.”

(Top photo from Caret Games)

This article, entitled “Mobile game startup Caret Games raises USD 28M from Softbank Ventures and SL Investment”, was written in Korean by Platum, edited by AllTechAsia.

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