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Business of games: studios that raised funds in March, investment round-up

3 min readMar 5, 2024

Investment round-up, with a list of studios that got funded in the March 1st week:

  1. Web3 Infrastructure provider Avail raises $27M seed round
  2. PlayMakers raises $1.5M for user-generated content for games
  3. Lapse raises $30M for authentic social media photo-sharing app
  4. Playtika earmarks up to $1.2bn for mergers and acquisitions
  5. Scuti raises $10M to boost rewards for gamers
  6. Sony India initiative, reveals 5 India Hero Project games coming to PS5 — Big Boot Games, imissmyfriends, Underdogs Studio, Holy Cow Productions, Tathvamasi
  7. Readygg has appointed gaming leader Shawn Layden as an adviser and raised $4 million in funding for its Web3 gaming business.
  8. Moonhub raises $1.4M for VR training
  9. The Collective Ace Group acquires By Aliens mobile game studio
  10. Industry veterans co-found Simply Sweet Games with plans to “revolutionize the word game genre”

2nd week:

  1. Game development and publishing hub The Collective Ace Group has acquired mobile game maker By Aliens
  2. Gamecity Hamburg to provide €400,000 for game prototypes
  3. Brain Jar Games has raised $6.7 million in a seed funding round, which the studio plans to put towards its debut project Dead as Disco
  4. Spatial launches Wolves Den Game Jam as a kind of Shark Tank for game startups

3rd week:

  1. Balancy raises $700K to transform game monetization and LiveOps
  2. Battlefield creative director Craig Morrison quietly departs EA for new studio, Blue Scarab Entertainment
  3. Respawn veteran Stig Asmussen forms Giant Skull to build AAA single-player games
  4. emptyvessel.io a new studio from Emanuel Palalic
  5. Roar Games has secured $1.5M in funding for its new game, Tenet of the Spark
  6. Brain Jar raises $6.7m in seed funding
  7. UG Labs secures $7 million to create games from speech
  8. Kaedim secures $15 million investment for AI-powered 3D asset creation
  9. Studio369 raises $5M for Web3 multiplayer mech MMO MetalCore
  10. Publishing giant Scholastic to invest US$186 million in 9 Story Media Group
  11. Metaverse and gaming technology company OneVerse has acquired online poker platform Calling Station and fantasy sports platform BatBall11.
  12. Ex-Riot art director has started a new studio, millions of monsters.
  13. Blockus secures $4M in pre-seed funding for its plans to transform Web3 gaming
  14. Carbonated raises $13 million for MadWorld

4th week:

  1. Sensor Tower has just bought rival, Data.ai
  2. Thirdverse completes $11.3M funding round for VR games
  3. Reef Creative Group acquires 70% stake in Bitmap Bureau.
  4. Virtuos has acquired Beyond-FX, a VFX studio that’s worked on titles including Mortal Kombat 1 and God of War.
  5. Behaviour Interactive snaps up Fly Studio.
  6. Gamestream raises €4.5m.
  7. Grom Social Enterprises to acquire Arctic7.
  8. Turtle Beach has acquired PDP (best known for its controllers) for the value of $118 million.
  9. Inevitable Games Fund debuts with $100M to pour into early stage Web3 gaming startups.
  10. Industry vets form new studio Muddy Robot Games.
  11. Shinji Mikami founds new studio, Kamuy Inc.

5th week:

  1. Game veteran Bill Roper has unveiled Lunacy Games as a new studio working on an open world survival RPG set in the post-apocalyptic American West.
  2. Internet Computer blockchain has raised $77M | Dfinity Foundation
  3. Illuvium raises $12M funding for blockchain games
  4. UK industry vets set up new studio Sunset Sugar
  5. Shinji Mikami has reportedly opened a brand new studio called Kamuy Inc.
  6. Take-Two to buy Gearbox from Embracer for $460 million
  7. Sega has sold Relic Entertainment
  8. Wargaming cofounder launches Mika Games to invest up to $50M in mobile games
  9. Shifty Eye Games raises $580K and appoints gaming luminaries as advisers
  10. Misfits Gaming launches game studio, Misfits Interactive
  11. Gunzilla Games raises $30M to support Off the Grid development
  12. Gam3s.gg has raised $2M to launch Web3 gaming superapp and $G3 tokens
  13. Popularium secures $2m seed funding for next game by Magic: The Gathering creator Richard Garfield
  14. Midas Games received $1 million investment led by Ludus Ventures
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With Love, Cartic P
/ @iCartic

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CARtic P
CARtic P

Written by CARtic P

game production & business guy — Cartic P, iCartic.com

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