Total amount raised
$14K
Latest funding date
October, 2024
Location
Neon has successfully raised $14 million in funding to build the future of ecommerce for mobile and PC games. The company offers direct-to-consumer ecommerce and payment solutions tailored specifically for the gaming industry.
Keep reading to explore the intricacies of Neon's fundraising journey and the investors backing this innovative platform.
What Is Neon?
Neon, founded in 1956, is headquartered in Singapore and specializes in creating immersive experiences. The company collaborates with major brands like Disney and Marvel to produce unique artifact tours and IP experiences.
Founded by Ron Tan, Neon has grown to employ between 251-500 people. Their expertise lies in direct-to-consumer ecommerce and payment solutions tailored for the gaming industry.
Neon's platform offers customizable webshops and secure checkout processes, ensuring a seamless experience for both developers and players. They handle backend operations, including payment processing and fraud protection, making them a comprehensive solution for game developers.
How Much Funding Has Neon Raised?
- Private Equity Round
- Amount Raised: SGD 235M
- Date: April 2021
- Lead Investors: EDBI, Pavilion Capital, Ron Tan, SeaTown Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their immersive experience offerings and support partnerships with major entertainment companies and governments.
- Private Equity Round
- Amount Raised: SGD 150M
- Date: October 2022
- Lead Investors: 65 Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their ecommerce and payment solutions tailored for the gaming industry.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Pavilion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their backend operations, including payment processing and fraud protection.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: CITIC Capital Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of customizable webshops and secure checkout processes.
Total Amount Raised: SGD 385M
Current Valuation: Not publicly disclosed
Key Investors
- 65 Equity Partners
- Details: 65 Equity Partners is a private equity firm based in Singapore. They focus on providing growth capital to companies in various sectors.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- EDBI
- Details: EDBI is the corporate investment arm of Singapore's Economic Development Board. They invest in innovative and high-growth companies globally.
- Investment Focus Areas: Information technology, healthcare, emerging technologies.
- Notable Investments: Not publicly disclosed.
- Pavilion Capital
- Details: Pavilion Capital is a private equity firm that focuses on growth-stage investments in Asia. They are a subsidiary of Temasek Holdings.
- Investment Focus Areas: Financial services, technology, consumer sectors.
- Notable Investments: Not publicly disclosed.
- Ron Tan
- Details: Ron Tan is the founder and CEO of Neon. He has been instrumental in driving the company's growth and innovation.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- SeaTown Holdings
- Details: SeaTown Holdings is an investment firm based in Singapore. They manage a diversified portfolio across various asset classes.
- Investment Focus Areas: Real estate, private equity, public equity.
- Notable Investments: Not publicly disclosed.
What's Next for Neon?
Neon stands at the cusp of a significant opportunity in the gaming industry, driven by the increasing demand for immersive experiences and seamless ecommerce solutions. With their expertise in direct-to-consumer platforms, Neon is well-positioned to capitalize on this growing market, potentially expanding their reach to new gaming communities and developers.
Future fundraising efforts will likely focus on scaling their technology and expanding their market presence. However, challenges such as maintaining robust security measures and adapting to rapidly changing industry trends could pose hurdles. Despite these challenges, Neon's innovative approach and strong investor backing suggest a promising path forward.
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