Lockwood Publishing Has Raised $25m In Series A Funding Round

? Funding

• Mobile game developer Lockwood Publishing has raised $25m in a Series A funding round led by Tencent, with participation from Novator Partners, David Helgason, and Hilmar Petursson

• Lockwood Publishing will use the proceeds to further support and improve their main title Avakin Life

? Previous Rounds

• In August 2019, Lockwood Publishing raised an undisclosed sum from Novator Partners, CCP CEO Hilmar Pétursson and David Helgason

?  Product

• Lockwood Publishing is known for its 3D virtual world Avakin Life, a life simulation game, with a gameplay based on living a virtual life and an emphasis on social component

• There are several apps in Avakin franchise available on IOS and Android platforms, which have been downloaded more than 90m downloads up to date

• The game saw its 3 million downloads peak in January 2020, but then started to lose its positions and since June 2020, the number of downloads has been steadily decreasing