Weekly News Digest #3
# of announced deals
announced deals’ size
# of closed deals
We are working on our 2023 Global Gaming Deals Activity Report, so this digest has no featured news this time. However, you can still find all last week’s deals in the “Notable Transactions” section below. Please follow us on X, LinkedIn, and Telegram to avoid missing the Report.
US-based AR and MR headset maker Magic Leap has received $590m in debt financing from Saudi Arabia’s Public Investment Fund, bringing the total raised to $4.5B. The company aims to expand its immersive technology, optimize pricing, and focus on collaborative, spatial applications.
UK-based games developer Build A Rocket Boy has raised $110m in a Series D funding round led by RedBird Capital Partners, with NetEase Games and Galaxy Interactive participation. RedBird Capital’s partner Julia Wittlin will join the studio’s board of directors. The funding will fuel the development of the company’s projects: user-generated Arcadia tools, the action-adventure game MindsEye, and the open-world experience and creation tool Everywhere.
Hong Kong-based web3 game developer MetaKing Studios has raised $15m in a Seed funding round from YGG, Square Enix, Krafton, FunPlus, Makers Fund, BITKRAFT, Delphi Digital, Animoca Brands, and others. The funding will help the developers to enhance game performance, improve user experience, expand user base, and conduct marketing initiatives. The studio is developing a strategy game, Blocklords, leveraging blockchain technology, allowing players to shape the in-game economy, engage in on-chain battles, and explore grand strategic gaming scenarios.
UK-based mobile games developer ForthStar has raised $10m in a Seed funding round led by Griffin Gaming Partners. Paul Gouge and Alex Rigby, the founders of UK-based mobile games developer Playdemic, founded the studio. The funding will go towards increasing the workforce and developing the company’s first titles.
US-based games monetization tool 3thix has raised $8.5m in funding from Xsolla founder Shurick Agapitov’s family office, Hand of Midas, and Steve Kokinos’ Sonic Boom Ventures. 3thix aims to reshape game monetization with web3 infrastructure, prioritizing privacy and sustainable growth. Xsolla, a global video game commerce company, plans to integrate 3thix to tackle free-to-play monetization challenges.
Turkey-based mobile gaming company Pine Games has raised $2.25m in a pre-Seed funding round at a $10m valuation. Led by 500 Emerging Europe and Laton Ventures, with participation from Loop Games founder Mert Gur, the funding will be used for further development of casual mobile games with innovative IP-based titles, as well as expanding the team.
Cyprus-based games co-developer Obelisk Studio has raised $2m in a Seed funding round from The Games Fund for a strategic shift into developing its original IP. Obelisk has worked on such projects as Fallout 76, Dota 2, Sons of Forest, Call of Duty series, and many others. The funding will support the creation of the studio’s first title, a psychological action-horror Displacement.
Turkey-based hyper-casual mobile games developer On Off Games has raised $1.5m in a funding round from Mobavenue to bolster its development team and artistic capabilities. On Off Games, founded in 2021, has created titles like Epic Hero Weapon Craft Masters and Territorial Wars. The funding will also facilitate the company’s exploration of web3 projects and enable the porting of games to various platforms.
Turkey-based VR games studio Wide Game Studio has raised $1.2m in a pre-Seed funding round led by Kültepe Investment, with participation from angel investors Fatih Şahin and Vedat Çavuşoğlu. The studio has already released a shooting game, Flare Frenzy, and is preparing to launch its new title, HEX’O’CURA.
India-based mobile games developer Sahaj Gaming has raised an undisclosed sum in a pre-Seed funding round led by Antler. The studio focuses on the casual gaming segment in India, emphasizing culturally rooted games such as Ludo, Snakes and Ladders, Tambola, and Checkers. Sahaj Gaming plans to turn those games into skill-based tournaments, capitalizing on the growing gaming market in India.
India-based digital gaming and esports company Nazara Technologies (NSE: NAZARA) has raised ~$30m (₹2.5B) in the third tranche of its $90.25m (₹7.5B) fundraising initiative announced in Jul’23. Kamath Associates, NKSquared, ICICI Securities, Plutus Wealth Management, and others backed the funding round. Nazara Technologies plans to utilize the funds for strategic acquisitions, investments, and overall growth objectives.