Google Ventures invests in Swedish VR studio Resolution Games
Wed 26 Aug 2015
Google Ventures has today confirmed their involvement in a $6mn investment round [Swedish] in Swedish virtual reality gaming firm Resolution Games, marking its first European investment outside of the UK.
The Stockholm-based studio is led by Candy Crush Saga veteran Tommy Palm, but the company focuses entirely on the use of virtual reality in gaming rather than hit smartphone puzzles. Co-founder Måns Ullerstam also has a successful mobile gaming history, forming part of the Lifestylers team – the first mobile game to exceed one million users.
“We focus on VR over a long time horizon with a small and agile team that can create and develop a range of new concepts, producing game content for a growing market of VR equipment,” said Palm. “So far, we’ve developed seven game prototypes, launched our first title, and we are working on the next, which will be a VR game with a fishing theme, due for release in early 2016,” he added.
Other companies involved in the round include Creandum, Initial Capital, Partech Ventures, and Bonnier Growth Media. Bonnier claimed in a press release today that the funding represents ‘the biggest investment round for a VR game developer ever…’
Ulrika Saxon, CEO of Bonnier added: “Every single person with a smart phone today has what it takes to start experiencing a revolutionary virtual reality experience, once the headset begins being distributed widely, which will be soon. The Resolution Games team has shown that they have the creativity, knowledge and entrepreneurial spirit needed to create success, and we’re happy to be part of the investor group behind this new journey.”
Resolution Games has said that it plans to use the capital investment to build its developer team, and increase the speed of output into the rapidly growing VR market.
Swedish VR companies and the country’s gaming talent pool are beginning to attract considerable interest from U.S. tech giants, with a further Stockholm studio, 13th Lab, being acquired by Facebook’s Oculus Rift division last December.