Kuro Games
CompanyChina · Founded 2014
Guangzhou Kuro Technology Co., Ltd. (库洛游戏) is a game developement studio based in Guangzhou, China. It was originally founded in 2014 and later moved to Guangzhou in 2017.
Connections
Each row is a game or company named alongside Kuro Games, each column a document, oldest first. A mark means that document names it. Select a row to see those documents.
About the company
- Founded
- 2014
- Country
- China
- Links
- Official site
Company data from IGDB.com
Key figures from the reports
Tencent-backed developer Kuro Games acquired a 15% stake in AI audio company Yanzhiyu Technology, representing the studio's first publicly disclosed investment in the AI sector.
InvestGame, 2026 · Flow Games’ Tencent-Led $46m Round and Disney’s $20m Character.AI Deal Lead the Week
Kuro Games' title Wuthering Waves has generated over $110.2 million (800 million yuan) in total revenue across PC and mobile platforms.
Game World Observer, 2024 · Wuthering Waves Already Generated Over $110 Million Across Mobile and PC
Kuro Games, which is 14% owned by Tencent, leveraged a pre-registration base of 30 million players to drive initial interest and adoption.
Stream Hatchet, 2024 · Wuthering Waves: The Next Big Gacha Game in Live Streaming
Kuro Games' Wuthering Waves generated $9.78 million in mobile in-app purchase revenue and reached 5.93 million global downloads within its first five days following the May 22, 2024, launch.
Game World Observer, 2024 · Wuthering Waves Hits Almost $10 Million in Mobile Revenue in Five Days
Documents about Kuro Games
Flow Games’ Tencent-Led $46m Round and Disney’s $20m Character.AI Deal Lead the Week
InvestGame's weekly deal roundup for the period ending mid-October 2026 tracked 14 transactions worth $91.9m, 8 of them closed, and highlighted talks for Amazon to acquire Decart at a valuation near $7.0B.
- Tencent led a $46 million funding round for Türkiye-based mobile developer Flow Games, marking the studio's second round of financing and bringing its total funding to approximately $49 million.
- Türkiye has emerged as a global leader in private mobile game studio funding, raising roughly $400 million between January 2025 and mid-October 2026, which accounts for nearly 40% of the global total.
- The Walt Disney Company placed a $20 million opening bid for assets of the bankrupt AI platform Character.AI, securing a perpetual license to its model-building code and patents while hiring 66 of its employees, including former CEO Karandeep Anand as CTO.
Dataminers, Beta Testers, and Fan Translators: Leaks as Cultural Capital in Gacha Game Communities
This paper, an autoethnographic and netnographic study by Hyerin Shin, examines leaks, the unauthorized circulation of unreleased gacha game content, as a form of cultural capital within gacha game fan communities.
- Leaks of unreleased gacha content are framed as a widely accepted form of 'cheating' (in Mia Consalvo's sense) that players use to counter the fear of missing out (FOMO) fostered by gacha monetization.
- Leaks simultaneously resist and stratify: advance access to information elevates certain individuals into 'fan leader' roles and, in some cases, becomes commodified.
- The study combines an autoethnography of the author's work as an administrator and fan translator for the GRAY RAVENS fan site for Punishing: Gray Raven with a survey of Genshin Impact leak communities based on interviews with anonymous beta testers and dataminers.
Global Top Mobile Games: May 2025
The May 2025 mobile game landscape shows a mix of legacy IP revivals, new releases, and sustained growth in key markets.
- Revenue leaders in May 2025 included 'Royal Match' ($71m, +4.4% MoM), 'Pokémon TCG Pocket' ($50m, +13.3% MoM), and 'Brawl Stars' ($27m, +50% MoM) on the App Store, while 'Whiteout Survival' led Google Play with $35m (+9.4% MoM).
- FUNFORGE TECHNOLOGY’s 'The Seventh Disaster' dominated ad spend in Taiwan and Southeast Asia, utilizing over 12,000 video creatives—72% in portrait mode—to generate 195k impressions in 14 days.
- The launch of 'Dragon Nest: Rebirth of Legend' in Hong Kong, Macao, and Taiwan on May 29 leveraged a multi-channel campaign with 7,000+ ad creatives, resulting in 127k impressions over 20 days.
Wuthering Waves Already Generated Over $110 Million Across Mobile and PC
The action role-playing game Wuthering Waves has achieved significant commercial success shortly after its launch, generating an estimated $110.2 million in global revenue across PC and mobile platforms.
- Kuro Games' title Wuthering Waves has generated over $110.2 million (800 million yuan) in total revenue across PC and mobile platforms.
- The game is projected to reach 1 billion yuan ($137.8 million) in global player spending by the end of its first month if current momentum continues.
- Mobile revenue alone reached approximately $43.6 million, with China accounting for nearly 24% of that total.
Wuthering Waves Approaches $40 Million in Mobile Revenue, Hits 30 Million Downloads Globally
Kuro Games’ title, Wuthering Waves, has achieved significant commercial success within its first month of global availability. The game reached a milestone of 30 million downloads across PC, iOS, and Android platforms.
- Wuthering Waves reached 30 million global downloads across PC, iOS, and Android within its first month of release.
- The title generated approximately $39.2 million in mobile in-app purchase revenue during its first month, following a $10 million performance in the first five days.
- Mainland China is the leading revenue market at 26%, followed by Japan (22%), the United States (16%), South Korea (14%), and Taiwan (6%).
Wuthering Waves: The Next Big Gacha Game in Live Streaming
The launch of Wuthering Waves marks a significant entry into the competitive gacha gaming market, challenging established titles like Genshin Impact and Honkai: Star Rail.
- Wuthering Waves generated 10.1 million hours watched across all streaming platforms during its debut week, peaking at just under 200,000 concurrent viewers.
- The game launched with significant technical issues, including crashes and animation glitches, which were mitigated by rapid developer patches and the distribution of free in-game currency to players.
- Gacha streamer Tectone was a major driver of engagement, contributing 919,000 hours watched, which accounted for nearly 10% of the game's total debut week viewership.
Wuthering Waves Hits Almost $10 Million in Mobile Revenue in Five Days
The launch of the free-to-play gacha title Wuthering Waves by Chinese studio Kuro Games demonstrates strong initial market performance.
- Kuro Games' Wuthering Waves generated $9.78 million in mobile in-app purchase revenue and reached 5.93 million global downloads within its first five days following the May 22, 2024, launch.
- The Apple App Store is the primary driver of commercial performance, accounting for 84% of total mobile revenue and 54% of total downloads.
- China is the leading market for the title, contributing 39% of total revenue and 25% of all global installs, with the United States ranking as the second-largest market.
Global Gaming Report 2024
The Global Gaming Report 2024 demonstrates a robust acceleration in the industry’s financial activity, with mergers and acquisitions reaching $27.3 billion across more than 960 transactions—an increase of 39% in disclosed value and a 21% rise in deal volume compared with 2023.
- Global gaming M&A activity surged in 2024, reaching $27.3 billion across 960 transactions, representing a 39% increase in disclosed value and a 21% rise in deal volume compared to 2023.
- Private placements raised $4.8 billion across 711 rounds, marking a 30% increase in total value despite a slight decline in the number of deals.
- The PC/Console segment led market activity with 53 deals, followed by Mobile (38) and Platform/Tools (32), with major acquisitions including EQT’s $2.8 billion purchase of Keywords and Playtika’s $1.95 billion takeover of SuperPlay.
