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Mobile Developer Xendex Raises New $3.5 Million
by Leigh Alexander [PC, Console/PC, Mobile Phone, Mobile Console]
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November 30, 2009
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Vienna-based mobile game developer Xendex has raised $3.5 million in its latest round of funding, adding to the $3.6 million the company raised last year.
The company says it's developed more than 50 mobile game titles and 25 online casino titles. It develops games based on its own IP and also works with publishers like Electronic Arts, Disney and THQ, to name a few -- for example, it's the developer of Space Invaders Evolution for cellphones, published by EA.
Xendex distributes titles to over 200 mobile carriers globally. This year, the company launched its first iPhone titles on Apple's App Store, in addition to its new PSP games, and secured licensing deals with energy drink brand Red Bull.
"With the first round of funding last year, our shareholders gave the company the opportunity to strengthen its leading position in the industry," says CEO Michael Halberl. "At the same time, it allowed us to lay the foundation for future growth by investing into new technology, licenses as well as the expansion to new gaming platforms. Now we will enter the next phase of our multi-year growth strategy."
Halberl called 2009 a "year of transition" for Xendex, citing challenging market conditions. "At the same time, we have been implementing significant changes in the company, changes that will make us even stronger going forward from here," he said.
The funding round was led by Austrian growth capital investment firm Pontis, with help from angel investors.
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