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PapayaMobile, Android Developers See Funding From DCM's A-Fund

PapayaMobile, Android Developers See Funding From DCM's A-Fund

October 20, 2011 | By Kyle Orland




Menlo Park, CA-based investment firm Doll Capital Management has announced seven startups that will receive the first round of money from its $100-million, Android-focused A-Fund, including mobile social gaming network PapayaMobile.

The news comes after Papaya recently passed 25 million users for its Android-centered network and development platform, which had already secured $18 million in funding earlier this year.

Also included in the new A-Fund funding are Beijing-based My Kingdom developer Happy Elements, which recently announced $30 million in new funding, and location-aware game studio Loki Studios, the company behind augmented reality title Geomon.

Each company will receive $250,000 to $5 million from the fund, according to a TechCrunch report, and DCM says its planning to use the fund to invest in nearly two dozen more Android-focused companies in the next three years.

Other companies receiving money from A-fund include white-label Android app platform Appia, payment solution Billing Revolution, Chinese cloud storage provider Kanbox and cross-platform messaging maker Kakao.


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