AirConsole Raises USD 3M in a Series A funding Round
ZURICH, Nov. 21, 2019 /PRNewswire/ -- AirConsole, a globally leading platform for casual games, today announced the raise of USD 3M in a Series A funding round. The round was led by Ringier Digital Ventures. Funds will be used to build out the game library and develop partnerships with TV operators and manufacturers globally.
AirConsole transforms any Laptop or AndroidTV into a video game console. Smartphones are used as gamepads, without the need of downloading any software or the use of additional hardware. Over the past 4 years, more than 150 games have been developed by 4,000+ developers globally. AirConsole built up a community of 5 million players over the past 4 years, and is widely considered the 'Netflix of games'. In 2019 alone, players from more than 180 countries have played more than 1 million hours of games via airconsole.com.
AirConsole solved the challenge of latency when playing across multiple devices over the Internet. "We have developed an ultra low latency mechanism: Input arrives faster than the computer can draw the next frame, making e.g. reactions in games instant, which particularly in faster games such as car races is of critical importance," explains Andrin von Rechenberg, Founder of AirConsole. Games can be played on a big screen, such as a living room TV, by using smartphones as the gamepads.
The Series A funding round was led by Ringier Digital Ventures. New investors such as Swiss Founders Fund, Alpana Ventures, EquityPitcher Ventures and Investors from Swiss ICT Investor Club (SICTIC) participated alongside existing investors Wingman Ventures and prominent angel investors such as Dr. Christian Wenger.
Andrin von Rechenberg intends to bring AirConsole to every home with a TV. Swisscom, the largest set-top box operator in Switzerland, already pre-installed AirConsole on 1.5 million SwisscomTV set-top boxes, something that von Rechenberg is now looking to replicate with operators and TV manufacturers in other countries as well. "We will first address the AndroidTV set-top boxes, of which 100M+ will be distributed by 140 TV operators until 2022," elaborates Andrin von Rechenberg.
Casual gaming via local wifi is truly social, unlike multiplayer games over the Internet. Historically, AirConsole saw an increase in sessions during the colder months of the year, with a drastic spike on Thanksgiving and between Christmas and New Year's, likely driven by social gatherings with family and friends. The latest game that has been released on AirConsole is a 4-player kart racing game which can be accessed for free via https://www.airconsole.com/play/gokartgo-air.
For more information, please visit http://www.airconsole.com
AirConsole has been established in 2015 in Zurich, Switzerland. Founded by Ex-Google Tech-Lead and ETH Zurich Alumnus Andrin von Rechenberg, the company quickly rose to fame by overcoming the previously unsolved challenge of latency when playing cloud-based games. More than 4,000 developers globally have co-created games that have been published on AirConsole, which in return have been consumed by more than 5 million players from 190+ countries. With an average session length of 30 minutes, AirConsole's players on average spend more time playing games than if they were to play single-player games, making the platform truly social and engaging.
Press Kit: http://aircn.sl/presskit
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