UK Android TV gaming platform sets sights on China with £1m investment
PlayJam, the Android TV gaming platform and video-on-demand (VOD) provider has secured £1m of investment as it sets its sights on the Chinese market.
The digital media company has attracted investment from media and entertainment investment firm Gate Ventures, who will now hold a 5% stake in the firm.
PlayJam provide over-the-top (OOT) services including gaming and video through its distribution platform and plug-in devices for Android-powered TVs.
Having attracted backing from the likes Adobe Ventures and US gaming retailers GameStop, the UK technology company has already begun to make inroads into the US market.
With this new investment, PlayJam is looking to expand into the lucrative Chinese market and will utilise Gate Venture’s contacts in the region as it attempts to gain a foothold in China, Hong Kong, Macau and Taiwan.
Dr Johnny Hon, Chairman of Gate Ventures PLC, believes PlayJam are a good fit for the investment company, and fit neatly into its current digital technology portfolio.
He said: “The investment in PlayJam represents the continuation of the Company’s investment in the high-tech media sector and diversification of Gate Ventures’ expanding portfolio.
“We believe that our investment will give PlayJam the resources and knowhow to further expand into the Chinese high-growth home gaming and entertainment space.
“PlayJam’s position in the high-tech media industry will complement Gate’s other investee companies, allowing the Company to continue its progression as one of the leading entertainment and high-tech media organisations.”