Today, Double Loop Games announced that it has raised $8 million in Series A funding.
The company said that the investment will be used to bring its first mobile title to market and expand its development team.
The funding round was led by Hiro Capital, along with participation from Garena, Riot Games, London Venture Partners and others.
Alongside the investment, it was announced that Cherry Freeman, co-founder and partner of Hiro Capital, has joined Double Loop Games board of directors. Games bring us moments of joy, essential social connections, and are part of the fabric of our everyday lives and this past year has made it clear that our relationship to games will only increase, said Double Loop Games CEO Emily Greer.
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Venture capital fund Hiro Capital is leading investment into three growing studios.
The fund today announced its investment into Snowprint Studios, Double Loop Games, and Happy Volcano. The three studios collectively raised $15 million in order to help them expand.
Snowprint Studios led by veterans of King, Paradox Interactive, and Wooga is currently running mobile game Legend of Solgard, and is also working on three new mobile projects including Rivengard and an undisclosed AAA mobile IP.
Double Loop Games is currently working on its debut social mobile game. It s led by Kongregate co-founder Emily Greer and former DeNA and Warner Bros. Games producer Shelby Moledina.
Ian Livingstone, co-founding partner at Hiro Capital, said,
“We are excited to begin 2021 by announcing Hiro’s investment in three amazing games studios, Snowprint, Double Loop and Happy Volcano. Each studio has demonstrated innovation and expertise in developing fun to play games which resonate with today’s audiences. I’m especially pleased that one of the studios came through our first Dark Star™ event for emerging indies looking to scale their businesses. If only venture capital had been interested in the games sector back in the 1970s, I might not have had to sleep in a van during the early days of Games Workshop!”
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