Platform Power
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
Nft Now
NFTs incoming: Matr1x doubles funding to $20M ahead of its debut Web3 mobile launch
Matr1x Fire is an upcoming NFT shooter on mobile, bolstered by new $10 million funding round
Production Power
Layer AI seed round raises $1.8M to bolster generative game art production
The AI-powered productivity tool sees support from The Games Fund, GFR Fund and others
Web3 World
SBI Holdings reveals ¥100BN fund to bolster Web3 in Japan
Sega and Square Enix are already well underway on their blockchain journeys, and up to 200 other devs could join them through SBI’s support
Very Noice
Games livestreaming start-up Noice raises $21 million
New company aims to blend multiplayer gaming with livestreaming
Saudi Foresight
Animoca Brands partners with Saudi Arabia in $50M deal to bring Web3 to NEOM
The future of NEOM just got a Web3 update
First Round Funding
Istanbul-based game studio SuperGears successfully completes first investment round led by TMRW foundation
SuperGears first investment round is based upon a valuation of $10 million and will add Crytek founder Cevat Yerli to the board of directors
Hot Five
Hot Five: Web3 tactics gaming, FunPlus’ latest soft launch and a bunch of new investments
Our quick-fix roundup of the hottest stories on PocketGamer.biz
Investment Round
Casual games hub Playbite nabs $1 million in funding
US-based company aims to expand on its userbase of "several hundred thousand" monthly active users
Investments
Developer Funstop secures $1.5 million funding from Indian investors
InfoEdge continue their investment in home-grown talent as part of India's increasingly vibrant mobile tech scene
Finding Funds
Riot veteran MJ Wong prepares Web3 AstrArk for gamers who "should be better treated"
$5.4 million has been raised in funding towards the launch of two Web3 games
Hot Five
Hot Five: Supercell’s mo.co launch, Netflix’s gaming strategy, and an AI seed round
Our quick-fix roundup of the hottest stories on PocketGamer.biz
Ai Advancement
Harmony Games raises $3M in seed round to build an AI puzzle game
The seed round was led by Griffin Gaming Partners
Market Moves
Merger and acquisition deal value exceeds $11 billion for 2023
Some of the biggest names in gaming restarted their acquisition strategies in Q3
Vc Funding
The games industry drew $454 million in VC funding in the third quarter of 2023
The figure represents a 9% decline from the previous quarter
Invest To Win
AppQuantum’s Core is the King will invest up to $1M in selected hybridcasual mobile devs
Core is the King is their new programme to support developers making hybridcasual games
Forge Finds Funding
Riot-backed Forge raises $11M to launch a platform rewarding gamer communities
Makers Fund, Animoca Brands and Bitkraft Ventures led the round
Alternative App Stores
PUBG maker Krafton invests $14.8 million in alternate app store One Store
The South Korean store aims to expand in the West and take on big tech
African Advancement
Sony Ventures to invest $10M via new fund for African startups
Fintech may be Africa’s biggest funding category, but Sony’s focus is on entertainment
Studio Seed
Krafton invests $7M in former Riot and Blizzard artist’s Studio Sai
The Seed Round comes after the success of Eternights and will support development of Sai’s next game
Investment
Krafton launches India game incubator with $150k potential investment for local studios
The company is going all-in on the Indian market previously despite BGMI's withdrawal and subsequent reinstatement
Better Than Betting
Omada raises $7.5M for a sports game with a twist: tackling gambling addiction
Money isn’t spent or won on bets, providing a healthier alternative
Investment
Saudi stakes a $50 billion+ claim in the gaming world - Nintendo, Activision, EA & more
Move over Tencent, Savvy Games and the PIF are THE new market makers in the global games portfolio
Making Myths
Spectarium raises €5M in Seed Round to bolster personalised AI RPG Myths
Each player will have a unique experience by leveraging AI technology
Mythic Manoeuvres
Mythic Protocol raises $6.5M towards blockchain, collaboration and cross-platform ambitions
Founder Igor Tanzil wants to avoid the trap of "squandered" potential by "frenzied financialisation"
Dino Designs
Zynga, FunPlus and NetEase veterans receive $8M investment for NFT dinosaur game
New studio GamePhilos gets support from Xterio, Animoca Ventures, SevenX Ventures and Chain Hill Capital
Making A Metaverse
Animoca Brands raises $20 million towards a new metaverse project
Mocaverse will allow Moca ID collectors to build up loyalty points and more
Indian Increase
Nazara to expand after latest $49M investment
The Indian platform reaches $660M valuation thanks to latest investment from SBI Mutual Fund
Gaming Market
The gaming industry saw $1.2 billion in investments and M&A in 2023’s first quarter
It's not great news for mergers and acquisitions as investments hit their lowest point since 2018
Success In Funding
Play Ventures’ Fund I sees 1.5x return in less than four years
The fund has 20 titles in its portfolio
Investments And Acquisitions
Haveli Investments acquires minority share in Match Masters developer Candivore
The acquisition comes at a cost of $100 million
Stocks
Playtika investor confidence grows despite recent financials
Estimations of the company's stock have risen since their most recent financial release
Investment
Krafton commits to massive $150m investment in Indian startups
The deal indicates the company’s renewed commitment to what has been a turbulent market for them
Financials
Sony sees 6.8% drop in income for games but a rise in sales
Games income increased by 167bn yen despite other slim financial results
Investment
Japanese mobile entertainment company Mixi to invest $50m in Indian market
The money will be issues as part of their corporate venture capital
Investment
Studio Billion receives undisclosed investment in pre-series A bridge round
WePlay Ventures, Aura B4YO Fund and Lima Ventures make another major investment in the Turkish market
Funding
Zibra AI raises $500,000 from a16z Speedrun
The funding brings the company's total investment so far to $2.5 million
Artificial Intelligence
AI startup Inworld raises another $50 million for a $500 million valuation
The new investment follows the company’s work on AI-driven non-player character experiences
Indie Funding
Google opens applications for its latest Indie Games Fund
The tech giant will distribute $2 million to small studios in Latin America
Investment
GameStake Technologies raises £630,000 in seed funding for “rewarded play” gaming
The company is pursuing the “rewarded play” style of monetisation
Investment
New studio Closing Theory raises $2.3m investment
The studio was co-founded by two previous members of the company Macro
Success In Funding
Singapore’s Eyeball Games raised $1.5 million for blockchain pool game
The fund highlights Singapore’s growing place in the mobile gaming industry
Breakdown
Drake Star's Global Gaming Report: Breaking down the numbers, charts and more
What do Drake Star’s charts and graphs tell us about the gaming industry today?
Australian Investment
Screen Australia invests $3 million into gaming as part of the country’s digital entertainment goals
The fund sees 23 games with budgets below $500,000 receive fresh cash influxes
Investment
Drake Star's Gaming Index rises by 15% private financing worth $700m in Q2 2023
The firm points to major deals like the Activision Blizzard and Scopely acquisitions while noting a lower level of investment
Investment
Scalo leads $3.5m investment in publisher Hexacore
The publisher specialises in mobile Web3 games
Studio Shifts
Neopets dumps the metaverse and crypto as TNT goes mobile
The newly independent studio will be focusing on building a new game called “World of Neopets” for mobile
Investment
More Turkish investment as Fortune Mine Games closes $2m seed round
The move reflects a wide and varied amount of investment in Türkiye
Week That Was
Week in Views - What caught our eyes in the last seven days
The PocketGamer.biz team tackles big money and two stories, about cancelled development and story innovation, from Develop: Brighton this time around...
Investment
Binance Labs commits $15 million to web3 games platform Xterio
The investment will see Xterio integrate AI and launch its token on the BNB chain ecosystem