South Korean venture capital K Cube Ventures said on Oct. 31 that it has invested 1.5 billion won (US$1.30 million) in German virtual reality game company PlaySnack.
The German game firm, established by seasoned game developers including its CEO Paha Schulz, is focused on developing and publishing VR games and content in the global market.
The in-house developing unit of the German firm is working on creating VR games for different gadgets including smartphones and game consoles and desktops.
“PlaySnack will try to develop innovative VR content and bridge the Asian market with the US and European markets,” said the PlaySnack CEO, who used to work for global top-tier game companies NCSOFT and Electronic Arts.
The Korean venture capital said it decided to make the investment decision because of the expertise of the PlaySnack game developers in VR technology.
By Kim Young-won (firstname.lastname@example.org)