Demeo Dev Resolution Raises $25M Investment

Demeo and Blaston developer Resolution Games closed its Series C funding round with $25 million, which it says will allow for new titles, continued game updates and studio growth.

This brings the studio’s total funding to $38.5 million. The Series C round was led by Qualcomm Ventures LCC and BITKRAFT Ventures, along with Knutsson Holdings AB. There was also participation from investors from prior rounds, such as  GV, MizMaa, GP Bullhound and more.

According to a statement from Resolution, the additional funding will allow for studio growth and continual updates of their existing VR titles:

The studio plans to dedicate more resources to ongoing development of existing titles as well as delivering additional live games. Already with more than 100 employees internationally, this latest infusion of capital allows the studio to accelerate company growth even further and scale ahead of the projected market growth as the industry model shifts toward games as a service (GaaS), which requires larger teams to support games post-launch with live-ops teams. 

Boaz Peer, Senior Investment Director at Qualcomm Ventures Europe and Qualcomm Isreal, is joining Resolution Games’ board of directors. Malte Barth, a founding partner of BITKRAFT Ventures, will join as a board observer.

Resolution Games are the studio behind several prominent VR games, such as Demeo, Blaston, Cook-Out: A Sandwich Tale, Angry Birds VR and many more. Demeo is one of our favorite VR games of 2021 so far and managed to land the top spot on our list of best multiplayer games on Oculus Quest. The game launched with just one campaign, but recently released an update with a second — Realm of the Rat King. According to Resolution Co-Founder and CEO Tommy Palm, this is just the first of  “many new adventures” in the works for Demeo.

Source: https://uploadvr.com/resolution-games-funding-series-c/