Weekly News Digest #32
# of announced deals
announced deals’ size
# of closed deals
We are currently working on our H1’23 Global Gaming Deals Activity Report, so there’s no featured news in this digest. However, you can still find all the deals of the last week in the “Notable Transactions” section below. To not miss the Report, please follow us on Twitter, LinkedIn, and Telegram.
MERGERS & ACQUISITIONS
US-based narrative games developer Telltale has acquired UK-based interactive video tech firm Flavourworks for an undisclosed sum. Flavourworks’ expertise in cinematic interactive stories will empower Telltale to create story-based games more efficiently and expand its market presence, especially on mobile devices. The acquisition aligns with Telltale’s strategy to collaborate with studios and technologies to improve narrative gaming experiences and capitalize on the convergence of film and gaming sectors.
US-based in-game ad company Monetizr has raised $4m in an investment round led by Change Ventures, with participation from Techstars and Ludus Ventures. The company’s business solution is replacing familiar in-game ads with ad experiences, allowing developers to add brands directly into games. After the round, Monetizr plans to grow its sales team and establish European development hubs to leverage partnerships with Fortune 500 companies and global games publishers.
US-based VR game developer Windup Minds has raised $1.6m in a Seed funding round, led by Venture Reality Fund, Acequia Capital, and New Leaf Ventures, with participation from other investors. The sum will be used for further development of the company’s VR and MR pet game. The title of the game is yet to be disclosed. The team of industry veterans from Oculus, Electronic Arts, Magic Leap, and Bungie aims to create immersive virtual pet experiences leveraging the latest animal cognition research. Windup Minds plans to redefine how players interact with virtual creatures, capitalizing on the emotional bond formed with pets.
Poland-based software startup ReadyCode has raised $0.44m (€0.4m) from ffVC Tech & Gaming Fund. The company is developing tools and technologies for game modding and scripting that will allow simpler creation of user-generated content for popular titles. The funds will be used to enhance the modding tool, expand its reach, and attract international clients, particularly AAA+ game studios.
India-based gaming startup MetaShot has raised $0.4m in a Pre-Seed funding round led by Inflection Point Ventures, with participation from angel investors. The company is developing a cricket-focused AR gaming platform with a specialized controller designed for the game. MetaShot plans to utilize the funds to expand its team, enhance marketing efforts, and expand its presence across India and beyond.
Turkey-based mobile games developer Veloxia has secured an undisclosed sum during its latest bridge investment round. The studio’s existing investors Collective Spark, Boğaziçi Ventures, and APY Ventures have participated among others. The new investment will aid Veloxia in expanding its foothold in the gaming market and scaling its idle simulation games with RPG mechanics on a global level.
Sweden-based mobile F2P games developer and publisher Wicket Gaming (OTCMKTS: WIGAF) has completed its directed share issue, raising $0.94m (SEK 10m) by issuing 12,500,000 shares. The company is primarily known for its casual mobile title King Royale: Idle Tycoon, and sports management simulator Cricket Manager Pro 2023.
UAE-based VC firm Illuminati Digital Capital has raised $50m to invest in early-stage blockchain companies, Web3 games developers, DeFi, AI and NFT infrastructure. The fund aims to create a global Web3 ecosystem, utilising decentralised technologies.