Brief: Razer gets big funding to roll out branded smartphones
- Singapore-US startup Razer has announced a strategic partnership with Hong Kong network carrier Three to market “co-branded, gaming-centric handsets and phone plans” and open a brick-and-mortar store in the city.
- Razer has also reportedly secured between US$50 million and US$100 million in funding from Horizon Ventures, according to TechCrunch. The VC firm is owned by Li Ka-shing, chairman of Three parent CK Hutchison. It isn’t clear if this investment is part of the Three deal or predates it.
Why it matters:
- Known primarily for its gaming hardware and computing peripherals, Razer has recently been targeting expansion into other areas.
- In January, the startup acquired smartphone manufacturer Nextbit. Back in October, it purchased THX, the audio tech company founded by Star Wars creators Lucasfilm.
- Razer has disclosed US$125 million in investment to date, though it claims to have raised more than this. The Wall Street Journal reported in October 2014 that the company had attained a valuation of over US$1 billion following an investment from Intel’s venture arm.
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