Garena, the name that is famous for publishing games such as FIFA Online and League of Legends is no more. Well, they are still around, but they have rebranded themselves. The company formerly known as Garena has been renamed to Sea Ltd, and it just secured a new round of funding, to the amount of USD 550 million (about RM 2.3 billion) to help their expansion in the region, especially Indonesia.

As part of the range of companies under the umbrella includes Shopee and Airplay, which the funding will be used to expand these names into new markets, but the Garena name will still be associated with the gaming community. The Sea name will be the new moniker for the umbrella company.

Part of the funding is said to be from GDP Ventures – a company owned by Martin Hartono, the son of Indonesia’s richest man. It is also now also backed by  JG Summit Holdings Inc., founded by Philippine billionaire John Gokongwei

Goldman Sachs is rumoured to be preparing to launch an initial public offering for Sea in the US where it could potentially raise as much as USD 1 billion (RM4.3 billion) thanks to the popularity of eSports around the world.

We hope all the best for Sea Ltd in its future dealings!

News sourced from Bloomberg