Razer announced yesterday that it has raised US$50 million (S$65 million) in venture capital to invest in technology, expand and innovate on its portfolio of designs. Or in other words, to make more mice, keyboard, mouse mats, headsets and laptops to sell to you.
The investment by IDG-Accel China Capital Fund, in exchange for a minority stake in Razer, is the first-ever round of venture capital raised by the gaming hardware and peripherals company. Razer had been funded by angel investors and it’s own global operating revenue before the investment.
“We took our time selecting an institutional investor as we wanted to find a partner that understood our commitment to gaming and our no-compromise attitude to designing products,” Min-Liang Tan, co-founder and CEO of Razer said. “Given our global reach, we wanted an institutional partner who didn’t just provide funding but could also help us scale.
“We’ve been having fun and kicking ass while being funded by our internal operations these couple of years – now imagine the kind of badass products we’ll be designing with the resources that IDG-Accel will bring to the table,” Tan continued.
Razer did not specify the specific areas where the US$50 million will be put to use, but I speculate that most or part of it will go towards logistics, distribution, research and development of the Razer Blade gaming laptop and it’s successor products.
- Related Items
Have your say. Add your comments: