KEK Entertainment raises $8M in seed round to build "platform-agnostic IP"

The round was led by Korea Investment Partners with participation from Woori Technology Investment Co, Kona Venture Partners and others

Date Type Companies involved Size
November 23rd, 2023 investment Kek Entertainment
Korea Investment Partners
Play Ventures
The Games Fund
KEK Entertainment raises $8M in seed round to build "platform-agnostic IP"

Crossplay-focused mobile games developer KEK Entertainment has successfully closed its seed round of funding with $8 million in investments towards growing its team and bolstering development.

The Cyprus-based studio brings with it an impressive history already, with founders Georgy Egorov and Oleg Poroshin both ex-Pixonic management. They were both involved in the success of War Robots, a multiplayer game fast approaching its 10th anniversary with over $750 million in revenue behind it so far.

A game for all platforms

KEK Entertainment’s first game in development is a vehicle shooter for mobile, PC and console, styled as a "platform-agnostic IP". Funding for it began two years ago in November 2021 with a pre-seed round that saw $3 million raised, and in the time since, the company has grown to 33 staff members with an international presence.

Now having a further $8 million to play with, KEK Entertainment has set its sights high - looking to deliver an "unparalleled gaming experience" that will "make a high-magnitude impact on the gaming world".

Egorov noted: "I am extremely happy that despite the obviously challenging investment climate, we put together the perfect setup for our journey! Now, we have partners in all major regions for our business: the USA, Asia, and Europe. However, the most important thing is that we have confidence in each of them, and from day one, we feel that we share the vision and vibe. After all, business is about people."

When we asked Egorov exactly why crossplay is so important to KEK Entertainment, he added: "Our long-term plan is to create a significant IP that unites various projects. Therefore, we aim to focus heavily on building and working with communities. We love our players and want them to interact across all possible social platforms. PC players are usually more social, and cross-play will allow mobile players to engage more."

Leading this latest investment round was the South Korean gaming VC fund Korea Investment Partners, with other participants including Woori Technology Investment Co and Kona Venture Partners. Pre-seed investors The Games Fund and Play Ventures returned to give further support.

"Imagine a world where it doesn't matter what device you have," said Poroshin. "This isn't just a cool idea, it's what's next. The new generation of mobile devices able to run console games, the rapid evolution of handhelds, broadband connectivity - everything speaks for this vision."

Last week, The Games Fund also supported Layer AI in its $1.8 million seed funding round to bring new AI art tools to developers.

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