Google Ventures led a $6 million Series A funding round in virtual reality games studio Resolution Games. Other investors in the funding include Creandum, Initial Capital, Bonnier Growth Media and Partech Ventures.
Press Release
Today, virtual reality (VR) games studio Resolution Games announced it has closed a $6 million Series A funding round, which to date marks the single largest investment round for any VR games developer. Google Ventures led the round, which marks GV’s first investment in a Swedish company since the firm’s expansion into Europe. Other backers include Creandum, Initial Capital, Bonnier Growth Media, Partech Ventures and others.
“We are thrilled to have the support of such high caliber thought leaders and VCs and to see they are confident in our team and strategy of making games everyone can enjoy,” said Tommy Palm, co-founder and CEO of Resolution Games. “We’re focused on VR for the long run with nimble, small teams creating lots of new concepts, establishing best practices and quickly landing on successful titles to add content for emerging VR devices. To date we’ve already created seven prototype games, released our first title and are working on our next release, which will be a fishing themed VR game to be released in early 2016.”
“VR is the next big gaming platform,” said Joe Kraus, general partner at Google Ventures. “The pace of development in VR will be very high over the next five years, with mobile VR at the forefront because anyone with a smartphone has the core of a VR experience already in their pocket. Tommy and his team have a proven track record of game development and successful entrepreneurship, and we’re excited about what Resolution Games is going to do.”
Resolution Games will be using the funds to grow its development teams to drive multiple games production at a faster rate – allowing the company to quickly gain knowledge, discover successful titles and raise the standards when it comes to games development across VR – while building a quality portfolio of IP for the emerging VR market. The company has already doubled its staff adding several new talented games creators and plans to continue its growth from within Sweden’s rich games development talent pool to firm up its core team.
“The funds will also give us the ability to ensure our longevity. As we learned with the mobile games market, perseverance is critical for building a successful company in an emerging market,” added Palm. “Resolution Games will be around for years to come and will be able to focus on making the correct strategic choices to help the VR Games market grow into its potential.”
About Resolution Games:
Resolution Games is the first virtual reality (VR) games studio that solely focuses on creating accessible, fun games that everyone can enjoy – pushing the limits of the emerging VR games space. The studio is composed of highly respected game industry veterans, serial entrepreneurs and thoughts leaders with a proven track record of widely acclaimed success spanning across mass market and AAA games, free-to-play games, hardware and more. Resolution Games is privately held and based in Stockholm, Sweden.
Follow the company at www.resolutiongames.com and on Twitter and Facebook.
