(Yicai Global) Oct. 9 -- Mobile gaming firm Hangzhou Fanyu Technology Co., better known as Daily2Fun, has raised around CNY10 million (USD1.51 million) in angel funding for marketing, server bandwidth, labor and administration costs, tech outlet Lieyun reported today.
Founded in May 2015, Daily2Fun specializes in the development and distribution of high-quality single-player mobile games. It aims to become a global gaming platform, integrating development and business operations with multi-language systems in different parts of the world.
The firm builds online communities to improve user retention, and has the end goal of creating different profit models to monetize online traffic through its 'pan entertainment' businesses.
Creating an intellectual property industry chain is at the core of its business development. The pan entertainment industry is in a golden era and an important part of China's new economy. An integral part of the sector, the gaming market had total sales of CNY165.6 billion (USD25.1 billion) last year, making up a third of all revenue generated by pan entertainment businesses.
Daily2Fun has developed a large number of casual mini-games to generate online traffic at a relatively low cost. It has over 10 million active users. The firm's business operations are generally divided into two segments: game development and applications. The game development division was set up about a year ago and has turned over as much as CNY6 million (USD905,000) in a month.