MoMinis, an Android game publisher headquartered in Tel Aviv, has raised $6 million in new funding.
In addition to providing free development tools and financing development for some premium partners, MoMinis also runs PlayScape, a virtual environment where gamers can check out different titles and developers can promote their games. The company says it currently reaches 35 million users, including 5.5 million actives and 1 million daily actives, with 100 MoMinis games planned and in development.
To illustrate the platform’s power, CEO Itzik Frid described a New York game developer that previously worked with a leading publisher but received fewer than 10,000 downloads. However, when it partnered with MoMinis, the game saw more than 1 million downloads in a month. Frid also pointed out that MoMinis has been highlighted as a top developer on Google Play — something you can see for yourself in all of its game listings.
The new funding comes on the heels of a $4.5 million round earlier this year, bringing MoMinis’ total funding to $15.4 million, including more than $10 million this year alone. Gemini Israel Ventures led the funding, and Frid said the round is still open.
Why all the fundraising? Frid said it’s because the company is just growing so quickly, and that he’ll use the money to expand the team, move to other platforms like iPhone, Windows Mobile, and Facebook, and to add new revenue channels.
MoMinis is the easiest, fastest and most effective way for mobile game creators to develop, distribute and receive an ROI on their work, creating opportunities to reach new markets and platforms. The MoMinis Studio is a free, easy to use and platform-agnostic mobile game development tool. Using this tool, developers have the ability to port applications to any device and OS while eliminating the need to pre-identify a selected mobile platform. MoMinis supplies monetization channels to developers via its online stores...
Since 1993, Gemini Israel Funds has helped many of Israel’s most talented entrepreneurs to build innovative and world-changing companies. With over $700M under management, Gemini invests in early stage and growth-stage companies across a range of industries including communications, consumer electronics, enterprise software, Internet software and services, semiconductors, and environmental technologies. The companies backed by our investment professionals include Allot Communications, Ceragon Networks, Commtouch, Diligent Technologies, Mellanox Technologies, Outbrain, Passave, Precise Software Solutions, PrimeSense, Saifun Semiconductors, Traiana, Takadu, Verisity,...
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