Ouya raises $15m in latest funding round

Ouya raises $15m in latest funding round
Craig Chapple

By Craig Chapple

May 9th 2013 at 12:18PM

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Ouya has raised $15 million in funding from new investors, the company's CEO has announced.

Julie Uhrman said that new funding was important for keeping the tiny Android in console in business for the long haul, and also meant it could increase production to meet demand.

New investors for Ouya include Kleiner Perkins Caufield & Byers, Mayfield Fund, Nvidia, Shasta Ventures and Occam Partners.

Launched on Kickstarter in July last year, Ouya quickly broke records to become the highest crowdfunded project on the site’s history, raising $8.5 million in just 30 days.

At the time, when Develop asked Uhrman whether there were other avenues of investment open to Ouya, she revealed that the company was in fact looking for additional funds, and would have taken the console to Kickstarter regardless of how successful raising private investment would have been.

“This is a really big undertaking and it’s going to be expensive,” said Uhrman.

“We’re looking for additional funds of money but more importantly we wanted to take it to Kickstarter regardless. Because Kickstarter will give us the support we need from the gamers and developers to get additional content on the devices and bring additional partners to us.

"It is unbelievable validation where gamers really demonstrate their enthusiasm with for what we’re doing with dollars, and those numbers demonstrate that there is a market."

In a statement after the interview however, Uhrman claimed there had been a misunderstanding from her original statements, and that Ouya would not be seeking additional funding outside of Kickstarter in the “immediate future”.

"Let me be clear, OUYA is not seeking additional funding outside of Kickstarter,” read a statement from Uhrman.

“Our priority now is to continue to focus on building a great game console while engaging in our on-going Kickstarter campaign.

"Our intent in going to Kickstarter was to raise money that would take us from functional prototype to product on the market.

"With respect to our funding, we have been candid in disclosing an early round raised through friends and family that included backing from investors like Digg founder Jay Adelson, Flixster founder Joe Greenstein, and Jawbone founder Hosain Rahman.

"We do not intend to engage in any conversations related to funding while we are on Kickstarter. And, it's not like we are going to start speed dialling VCs as soon as the Kickstarter campaign ends.

"Once our Kickstarter campaign closes funding our priority will be getting Ouya to market, and delivering the best game experience possible. Fundraising will not be top of the list."