Mighty Bear, a sport studio startup that grew out of King.com’s former workplace in Singapore, has landed new funding because it readies its debut title for smartphones.
The startup was based by 4 former King.com staffers — Simon Davis, Fadzuli Said, Benjamin Chevalier and Saurabh Shukul — after the gaming large closed its Singapore workplace — inherited through the acquisition of Non Stop Games — following its $5.9 billion acquisition by Activision. Today, Mighty Bear’s staff of 18 counts expertise working with Ubisoft, EA, Lucasarts, Disney, Gameloft and others.
The startup previously raised $775,000 in a pre-seed round in early 2017, and this time round it has pulled in a seven-figure USD funding. The deal is formally undisclosed, however a supply with information of discussions advised TechCrunch it’s value round $2.5 million.
The deal was led by U.S.-based Skycatcher, New York hedge fund banker Eric Mindich’s Everblue fund, and M Ventures from Los Angeles. Others within the spherical embody Singapore’s Atlas Ventures, Lev Leviev — who’s co-founder of VK.com amongst different issues — and present backer Global Founders Capital, which is affiliated with Rocket Internet.
“We’ve already got a good set of investors from Europe and Asia so we realized we needed networks in North America, too,” Mighty Bear CEO Simon Davis advised TechCrunch in an interview.
Davis added that, past extending their attain for functions like hiring, partnerships and extra, they open up the potential for IP and media offers additional down the highway.
First factor first although: Mighty Bear is working to launch its first title, which Davis mentioned might be an MMORPG. Right now, it’s being secretly examined for scalability and technical capabilities amongst customers in India and the Philippines with a view to a full launch on iOS and Android later this yr. Davis mentioned the corporate plans to launch one other title, too, with each video games managed concurrently.
“We’ve mainly taken a style that we all know is monetized and engaged with hardcore customers and tried to carry it to a big viewers. Our objective is to take large desktop experiences and streamline them into five-minute bursts,” he advised TechCrunch in an interview.
You could not comprehend it, however you’ll have run into Mighty Bear’s ideas already despite the fact that it hasn’t totally launched a title but. That’s as a result of a part of the analysis and growth course of contains creating and disseminating movies and promoting for mock video games by channels like Facebook.
That, Davis defined, may also help Mighty Bear in all method of the way, from fundamentals reminiscent of determining what sort of visuals or promoting strategy will get engagement from customers, to broader functions reminiscent of understanding the varieties of video games that folks wish to play.
“The process helps witter down ideas to those that will get traction with users. If a game makes it through the various internal gates we have, and to soft launch, then we have the best potential for it to perform well,” Davis mentioned.
Developing art work and promoting for ‘pretend’ video games isn’t as obscure as it could sound. While it isn’t normal for smaller studios, it’s a follow that Davis mentioned is widespread at big sport growth corporations — that in flip is a mirrored image within the expertise that the staff at Mighty Bear has underneath its belt.