Israeli studio Toya has raised $4 million in seed funding to fuel growth on Roblox.
The funding round was led by Drive by DraftKings and included Remagine Ventures, Powerhouse Capital, and 1Up Ventures.
Located in Tel Aviv, Toya was founded in 2017 and has a portfolio consisting of 30 games with a focus on creating diverse and inclusive content for the "metaverse generation," Gen Z.
The studio’s Roblox game, Miraculous RP: Quests of Ladybug & Cat Noir, is based on the French television series Miraculous Ladybug and is the first adaptation of an animated series in Roblox.
Toya developed the title in collaboration with Zag Games who concurrently developed a Miraculous Ladybug puzzle RPG mobile game with CrazyLabs.
The title premiered on Roblox in May this year and has since reached over 200 million plays, growing Toya’s userbase over 100 times.
Toya will use the funding to expand its hiring and partnership strategies, enhance its current portfolio and integrate new titles into its widening portfolio.
In addition to the funding, Drive by DraftKings CEO and managing partner Meredith McPherron will join Toya’s board of directors.
"Dream team of backers"
"The creator economy is booming, and great content is in high demand," said Toya co-founder and CEO Anat Shperling.
"Toya's ability to create breakaway hits helped us to attract a dream team of backers. With this new funding, we'll be able to accelerate our product development and go-to-market plans, giving Roblox gamers beautiful, fun, and diverse gaming experiences."
Drive by DraftKings CEO and Managing Partner Meredith McPherron commented: "Toya has put together the best team in the market for metaverse content, and has been getting significant traction to its content.
"I'm incredibly excited about Toya's focus on the Roblox economy, which is growing to be a major content platform. The company's message of diversity and inclusion has allowed it to reach [30%] of girls in the US, with engagement metrics which eclipse other forms of media."
In more metaverse news, Roblox revealed a partnership with US rock duo Twenty One Pilots to perform the latest virtual concert on the platform.