Weekly News Digest #49
# of announced deals
announced deals’ size
# of closed deals
Last week was relatively modest regarding investment and M&A activity, so it’s been quite a while since we featured a proper analysis. You can learn about the previous week’s deals in the “Notable Transactions” section below.
Meanwhile, check our new Reports feature — a vast collection of gaming reports, which allows easy finding and reading these reports using tailored search filters, offering a smart way to access gaming insights. The reports of the previous week are already on the website:
— 5 Mobile App Predictions for 2024 from data.ai;
— 2024 Africa Games Industry Report from Maliyo Games.
Ireland-based gaming tech company W4 Games has raised $15m in a Series A funding round led by OSS Capital, with participation from angel investors. The company is developing W4 Consoles, an open-source Godot Engine tool for seamless game portability across different platforms. The funding will help W4 Games increase its workforce and update its tool.
Japan-based gaming company GC Turbo has raised $3m in a Seed funding round led by Animoca Brands, with participation from Infinity Ventures Crypto, FBG Capital, and Big Time Games. The funds will be utilized for further development and distribution of the company’s first title, Poglin, with plans to expand it into a transmedia IP covering anime, games, web3, and physical merchandise. The launch of the alpha version is planned for Q1’24.
US-based gaming startup GameTree has raised $1.7m in a Seed funding round from Corazon Capital, Full Stack Ventures, Goodwater Capital, 32-Bit Ventures, Expert Dojo, Overwolf, and other investors. The platform aims to combat toxic behavior and create inclusive gaming communities globally. The company also plans to create connections among gamers through its LFG (Looking For Group) app. The funding will support the development of a desktop application with overlay game technology and expand into B2B partnerships.
Greece-based narrative design platform Arcweave has raised $0.85m in a Seed funding round led by Galaxy Interactive, with participation from Genesis Ventures. The company plans to utilize the funds to enhance its platform and develop a multi-modal, LLM-powered AI assistant for game creation. Arcweave’s tools cater to game-specific scriptwriting for complex, multi-hour narratives, providing a low-code platform with seamless integration into existing game engines like Unity and Godot. The AI assistant aims to generate stories, characters, and media content to assist game developers in maintaining consistency and addressing content gaps.
US-based mobile games developer Titan AI has raised $0.5m in a Pre-Seed funding round led by Berkley SkyDeck, with participation from Andreas Gross, Bob Meese, and other investors. The studio aims to streamline mobile game development with the help of AI, using proprietary technology to combine 2D graphics and 3D models. With a focus on inclusivity, Titan AI creates games featuring underrepresented characters, launching prototypes like Aztec Spirit Run and adopting a F2P model supported by in-app ads and paid features.
India-based esports and gaming startup EsportsXO has raised an undisclosed sum in a funding round from Orbit Startups, SucSEED Indovation Fund, Mumbai Angels, WeFounderCircle, and Imperial Holdings. EsportsXO offers online esports tournament management systems and a game and player discovery platform. The funding will fuel the company’s expansion and user base growth, focusing on enhancing the BattleXO platform and addressing the needs of gamers, game developers, and tournament organizers.
Singapore-based AI-powered web3 metaverse co-creation platform StarryNift has raised an undisclosed sum in a funding round from OKX Ventures. StarryNift aims to create a virtual world with 3D experiences for gaming, creation, and socializing, integrating multiple devices and chains. The investment will support StarryNift in expanding its international team and developing decentralized social protocols. Besides, the company plans to integrate AI productivity tools and build infrastructure for the BTC ecosystem to elevate users’ 3D space experience and on-chain identity construction.
US-based GameChanger Systems, the creator of the Instant Video Game Buyback kiosk, has raised an undisclosed sum in a Series A funding round. The funding will allow the company to increase its presence in major US markets. GameChanger aims for a kiosk fleet expansion, partnering with big-box grocers and retailers to offer consumers convenient Discs to Dollars transactions.
Sweden-based Rightbridge Ventures Group (STO: RIGHTB) has invested ~$0.14m (SEK1.5m) in Sweden-based gaming company Adventure Box Technologies (STO: ADVBOX), acquiring 9,375,000 newly issued shares at a subscription price of 0.16 SEK. Post-transaction, Rightbridge holds approximately 19.3% ownership in Adventure Box. Adventure Box, known for its KoGaMa platform, provides tools for collaborative gaming experiences in a dynamic social metaverse.