Teatime Game titles, a new Icelandic “social games” startup from the similar crew at the rear of the vastly common QuizUp (obtained in by Glu Cell), is disclosing $nine million in funding, manufactured up of seed and Collection A rounds.
Index Ventures led equally, but have been joined by Atomico, the European VC fund founded by Skype’s Niklas Zennström, for the $7.five million Collection A round. I comprehend this is the to start with time the two VC companies have finished a Collection A deal collectively in around a ten years.
Each VCs have a good keep track of history in gaming. Index counts King, Roblox and Supercell as previous gaming investments, while Atomico also backed Supercell, alongside with Rovio, and most not long ago Bossa Studios.
As component of the round, Guzman Diaz of Index Ventures, Mattias Ljungman of Atomico, and David Helgason, founder of Unity, have joined the Teatime Game titles board of directors.
Meanwhile, Teatime Game titles is trying to keep shtum publicly on exactly what the stealthy startup is functioning on, other than that it plays broadly in the social and cellular gaming area. In a get in touch with with co-founder and CEO Thor Fridriksson yesterday, he explained a small extra off the history and on situation that I don’t generate about it yet.
What he was keen to describe publicly, nonetheless, is the typical trouble the organization has set out to remedy, which is how to make cellular online games extra social and personalised. Especially, in a way that any social characteristics — together with communicating with friends and other gamers in true-time — boosts the gameplay instead than receives in its way or is simply bolted on as an adjunct to the video game by itself.
The company’s macro thesis is that online games have constantly been inherently social all over diverse eras (e.g. card online games, board online games, arcades, and consoles), and that most online games actually occur to everyday living “through the conversation concerning folks, opponents, and the audience”. On the other hand, in several respects this has been dropped in the age of cellular gaming, which can really feel like pretty a solitary working experience. That’s either for the reason that they are one participant online games or turn-based mostly and performed versus invisible opponents.
Teatime plans to use the newly-disclosed investment decision to double the sizing of its crew in Iceland, with a individual concentration on software program engineers, and to even more acquire its social gaming offering for third social gathering developers. Certainly, which is right, this is clearly a developer platform participate in, as much as something else.
On that note, Atomico Partner Mattias Ljungman says the upcoming “breakout opportunity” in online games will see a transfer past personal studios and titles to what he describes as fundamental enabling technologies. Connected to this he argues that the upcoming generation of online games organizations being created will “become at any time extra mass industry and socially connected”. You can read much extra on Ljungman and Atomico’s gaming thesis in a web site submit not long ago published by the VC agency.