Resolution Games has raised $25 million after closing a round of Series C funding.
This now brings the total amount of capital raised to $38.5 million, one of the largest funding rounds by a studio that has developed VR/AR mobile titles.
Founded in 2015, the Swedish developer has released several titles for the mobile platform such as Acron: Attack of the Squirrels and Angry Birds: Isle of Pigs AR and VR.
The funding announcement follows the recent success of the newest title to come from the studio, Demeo. Released in May this year, the title has passed the multi-million dollar mark and continues to have high player retention, according to the studio.
“Accelerated pace”
Resolution Games has also revealed that Qualcomm Ventures senior investment director Boaz Peer will join the studio’s board of directors. Peer commented on how the VR market is growing at an “accelerated pace”, a trend that he expects to continue over the next few years.
“Six years ago, Resolution Games was one of the first studios focused on VR and AR,” said Resolution Games CEO Tommy Palm
“We’ve learned a lot, worked in a time with limited technology, survived a small market, and have continued to think big-picture and long-term,”
“We see vast potential in VR and that the market is maturing. We want to up the game and standard for quality to ensure VR users have the best possible experience, and that VR games not just meet – but surpass – the potential from what we’ve seen on other platforms like PC and console.”
Augmented and virtual reality mobile games have shown growing success in the past five years with Pokmon GO grossing $5 billion in five years.
CD Projekt Red is launching a new location-based AR game based on the popular Witcher series later this month.
