Weekly News Digest #45
# of announced deals
9
announced deals’ size
$53.9m
# of closed deals
7
Hi all,
Good news: our Q1-Q3’23 Global Gaming Deals Activity Report is coming out later this week. We are currently doing the final touches, so this digest has no featured analysis. However, you can still find all last week’s deals in the “Notable Transactions” section below. Please follow us on Twitter, LinkedIn, and Telegram to avoid missing the Report.
We want to thank MGVC and Xsolla for supporting this digest.
| NOTABLE TRANSACTIONS |
MERGERS & ACQUISITIONS
US-based marketing and data analytics company AppsFlyer acquires Lithuania-based gaming data analytics company devtodev. The strategic acquisition enhances AppsFlyer’s core offerings, strengthens its games suite, and contributes to developing the new AppsFlyer Privacy Cloud Marketplace. Founded in 2014, devtodev focuses on data-driven insights for optimizing user retention and maximizing conversions.
VENTURE FINANCING
Finland-based games livestreaming start-up Noice has raised $21m of Series A funding from F4 Fund, BITKRAFT, Team Builder Ventures, Sedona Holdings, and several individual investors. Noice plans to integrate competitive and cooperative multiplayer gaming with live streaming on a single platform, allowing users to play while watching. The funding will be used for further platform development and specifically support Noice’s closed beta starting in Nov’23.
France-based mobile games publisher TapNation has raised $16.1m (€15m) in a funding round. Re-Sources Capital, Paluel-Marmont Capital, and several other investors participated in the round. The funding will support TapNation’s goal to diversify its portfolio and strengthen its growth strategy. The company offers a technological platform enabling game testing, player behavior analysis, and identification of promising gameplay.
South Korea-based game developer Clover Games has raised ~$11.4m (₩15B) in a Series B funding round from LB Investment, Kakao Games (KOSDAQ: 293490), Kona Venture Partners, Devsisters Ventures, and other investors. The money will be spent on further developing new IPs and enhancing the studio’s business operations. Clover Games is primarily known for mobile titles like RPG Lord of Heroes and life sim It’s Me; apart from that, the company is currently developing a new title, HeavenHells, that is set to launch in 2025.
US-based VR games developer AstroBeam has raised $3m in a Seed funding round from several investors, including The Venture Reality Fund, Anorak Ventures, Boost VC, TIRTA Ventures, and Oculus co-founder Nate Mitchell. AstroBeam is developing a VR multiplayer game supporting natural hand tracking and voice communication. The title of the game, as well as its release date, are yet undisclosed.
According to the SEC filing, US-based gaming tech company GameDriver has raised $2m out of $3m. The company is developing an eponymous platform for automated game and app testing.
US-based tech startup Orbit Technologies has raised $0.5m in a pre-Seed funding round led by Dune Ventures. Orbit focuses on creating immersive neurotechnologies for gaming and virtual reality. The funds will be used to prepare the product for production, aiming for a pre-sale launch in Q2’24.
Turkey-based mobile games developer SuperGears Games has raised an undisclosed sum in a Seed funding round led by The TMRW Foundation, with the participation of former Unity VP Ulaş Karademir and Genco Alp, CEO of Ingame Group. The company is currently developing its first title, Racing Kingdom. With this investment, the founder of The TMRW Foundation and the creator of the Far Cry and Crysis series, Cevat Yerli, will join the Board.
China-based interactive entertainment developer Intiny has raised an undisclosed sum in a funding round from HippoJoy. The company is developing live-action interactive video games, like Love is All Around! The investment explicitly targets Intiny’s interactive film and television business, marking a significant move by HippoJoy into this gaming industry sector.
FUNDRAISING
US-based digital entertainment VC firm GFR Fund has raised $53.5m for its third fund to invest in gaming and entertainment organizations. The fund focuses on early-stage companies with an emphasis on startups and first-time entrepreneurs. The previous GFR investments are VRChat, Stacked, Freedom Games, and several other studios.
