Weekly News Digest #20

Hi all,

Last week we released our Q1’22 Global Gaming Deals Activity report. The total value of both closed and announced deals for the period achieved the jaw-dropping amount of $100.3B (throughout 269 deals), already beating the full deal value of FY’21! See more findings here, share the Report if you like it, and don’t hesitate to give us your feedback at digest@investgame.net.

FRVR has acquired Krunker.io

Portugal-based instant games publisher FRVR has acquired F2P browser-based shooter Krunker.io for an undisclosed sum.

Founded in 2018, Krunker.io is a multiplatform instant gaming platform with full modding support, which allows users to create their own maps and modifications. The platform reports over 215 million unique users visiting Krunker last year. This year the number is likely going to be higher, since FRVR, which has already reached over 1.5 billion players to date, is planning to use the resources on hand to accelerate the growth of the newly acquired platform. And they do have those earlier this year, FRVR closed a $76m round led by Hiro Capital, with participation from existing investors Accel and Makers Fund.

In one of our previous digests, we wrote about the surge of cross-platform gaming and how FRVR can potentially win from the change in players’ behavior and habits.

We want to thank Hiro Capital and The Games Fund for supporting this digest.

MERGERS & ACQUISITIONS

UK-based indie games publisher Curve Games acquires UK-based indie game developer Fiddlesticks Games. The financial terms of the deal are not disclosed. Fiddlesticks Games is most known for its puzzle-platformer Hue — the publisher plans to further grow the IP by supporting its community, working on the new content, and developing potential sequels.

VENTURE FINANCING

US-based software developer AccelByte has raised $60m in a Series B round led by SoftBank Vision Fund 2, with participation from Sony Interactive Entertainment, Galaxy Interactive, and NetEase. The proceeds will support further development of the AccelByte platform that helps game developers to build, scale and operate live service games.

US-based blockchain-based game developer Irreverent Labs has raised $40m in funding. There are no details about investors disclosed at this moment. The proceeds will accelerate the development of the upcoming P2E blockchain fighting game MechaFightClub.

Blockchain-based startup Untamed Planet has raised $24.3m in a funding round led by Animoca Brands. The company is developing 3D immersive games using NFT technology with plans to implement a play-to-protect model — 50% of profit will be invested in the environmental projects for saving the planet. In addition to the financing, Animoca’s subsidiary Nway will assist with the development of the company’s games.

US-based esports organization Generation Esports has raised $19m in a Series B funding. The round was led by Altos Ventures. The funding will be partially used to finance the acquisition of US-based tech company Wizard Labs, which uses AI to simplify the creation and distribution of video content. The rest of the proceeds will further support the company’s scholastic esports initiatives.

Brazil-based SnackClub has raised $9m of Seed funding, with Animoca Brands, Ascensive Assets, Formless Capital, and others participating in the round. SnackClub is launching a decentralized autonomous organization (DAO) for the gaming community to invest in blockchain initiatives, including P2E projects.

US-based Web3 gaming platform LootRush has raised $12m of Seed funding in a round led by crypto company Paradigm. The round will support the launch of the LootRush platform to make the process of investing in Web3 gaming easier and cheaper.

Over the past year, Denmark-based games developer Ghost Ship Games, known for its co-op FPS Deep Rock Galactic, has invested in three different game developers: Ugly Duckling Games, Half Past Yellow, and Games Swing. Inspired by Sweden’s model of business, Ghost Ship wants to attract investors’ attention to the Denmark market.

Blockchain-based game developer InfiniGods has raised $9m in Seed funding. The round was led by Pantera Capital and backed by Animoca Brands, Framework Ventures, and others. The round will be used to finance the development and launch of three blockchain games in 2022.

Spain-based blockchain company Freeverse has raised $10.5m in Series A funding, in a round co-led by Earlybird and Target Global, with participation from others. The funding will be used to support further development of Freeverse platform, which allows blockchain-based game developers and content creators to make their NFTs evolve.

Sweden-based tech company LootLocker has raised $2.1m in Seed funding. IA Ventures, Acequia Capital, and others have participated in the funding. The company offers a plug-and-play, cross-platform backend for developers to build, ship, and run games. The funding will be used for the further growth and development of both company and platform.

US-based esports video-highlight platform Sizzle has raised $5m in Seed funding. The round was led by White Star Capital, with participation from Progression Fund, Eterna Capital, Play Ventures, and others. The proceeds will help to grow the platform and promote it among esports creators and leagues.

German-based esports data company Bayes has received a strategic investment of $6.2m, led by Las Vegas Sands with participation from BITKRAFT Ventures. The funding will be used to further accelerate the company’s growth and expansion into new markets.