Venture Capital News: PowerCore Closes $2M Seed Round
SAN FRANCISCO, CA, PowerCore, a company offering smart toys, digital activation and merchandise solutions for games, has announced today that it has completed its seed round of funding of $2 million US dollars.
Investors of this round include 500 Startups, East Ventures, Golden Gate Ventures, and Cherubic Ventures.
PowerCore has also announced the opening of its official online store (http://shop.powercore.io) which will be the first retail outlet for PowerCore-Ready digitally tagged merchandise. The initial rollout features exclusive gear for Huck Gee's popular Battle Tails game including prints, stickers, apparel and lifestyle goods.
PowerCore offers game companies and brands with a new way to extend their digital experiences into the real world with smart toys and branded merchandise through the PowerCore platform. Users get rewarded digitally for their actions in the real world -- be it purchasing merchandise, going to a company's booth at a show, or anywhere where people can interact physically with a brand. Users simply scan the PowerCore tag with their mobile device and they are rewarded immediately.
PowerCore Platform Features
NFC and AR real-world tags providing the optimal scanning experience regardless of device.
Unique IDs -- Each real-world tag has its own unique ID, allowing for personalized digital rewards, social sharing mechanics, and secure verification of authenticity
Lightweight SDK -- easy integration of PowerCore platform into mobile apps -- support for Native iOS, Android, Unity, Adobe Air, Cocos2dx.
Digital Reward Control -- user rewards can be updated and altered over time.
Reporting Dashboard -- see users' interactions with the tags to constantly improve the experience.
Open Independent Platform -- PowerCore platform is built on open standards allowing bridges between any real-world touchpoint to any digital experience.
PowerCore Inc. was founded in 2015 by Jia Shen, the former founder and CTO of RockYou, and Young Lee with offices in Palo Alto, California and Tokyo, Japan. PowerCore's complete offline-to-online (O2O) digital activation solution includes digitally-tagged merchandise production, digital reward management, developer kit integration and secure authentication. Additionally PowerCore provides merchandise sales and fulfilment through its digital storefront.
The PowerCore platform is the ideal solution for independent mobile game companies looking to capture more revenue from their hardcore fans; brands looking to connect consumers from real world touch-points to online experiences; and creators of original character properties to bridge the gap between physical merchandise and digital engagement.
About 500 Startups
500 Startups is a global venture capital seed fund and startup accelerator based in Silicon Valley with ~$200M in assets under management. They have invested in a wide variety of technology startups all over the world, currently over 1,500 companies since their inception in 2010 including: Credit Karma, GrabTaxi, Twilio, Udemy, Ipsy, TalkDesk, Intercom, MakerBot (acq'd by SSYS), Wildfire (acq'd by GOOG), and Viki (acq'd by Rakuten). Their team of 100 people manage seed investments in 20 countries and speak over 25 languages.
About East Ventures
East Ventures aims to bring success to ventures by providing early stage seed capital to promising start-ups. With a total of 6 offices in Jakarta, Tokyo, and San Francisco, their global team has invested in over 150 companies across Asia and the US. Our portfolio of companies focuses on commerce, social, game, SAAS, and mobile services. East Ventures has a strong foothold in Japan and operates incubation offices in each country that help foreign startups enter the market. Their investment team consists of experienced professionals that allow us to provide a strong network across Asia.
About Golden Gate Ventures
Golden Gate Ventures is an early-stage venture capital firm investing across Southeast Asia. Since 2011, the firm has invested in over 25 companies across more than 7 countries in Asia. The firm invests in internet & mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS platforms.
About Cherubic Ventures
Cherubic Ventures is an early-stage venture capital firm providing seed capital to talented entrepreneurs with the passion and dedication to pursue bold dreams. Founded by angel investor Matt Cheng in 2010, Cherubic Ventures has invested in over 80 companies in Silicon Valley, Greater China, and SouthEast Asia. Their portfolio companies have collectively raised over $1 billion follow-on financing. Cherubic Ventures has offices located in San Francisco, Beijing, and Taipei.
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