Leading virtual reality (VR) and augmented reality (AR) games company, Resolution Games, today announced it has closed a $7.5 million series B round of funding led by MizMaa Ventures. The round also includes new investors from venture capital firms GP Bullhound and Fly Forever, as well as industry thought leader David Helgason, the founder of Unity. Prior round investors GV, Partech, Bonnier Ventures, Creandum and Sisu Game Ventures also participated in the round.
“We’re very excited to have these high-caliber thought leaders join our team, and to see the continued support from our current investors,” said Tommy Palm, CEO and co-founder of Resolution Games. “With this group behind us, we can work towards scaling and being better prepared to take advantage of the maturing market.”
With this latest infusion of capital, the company’s total funding comes to $13.5 million, which will allow Resolution Games to further grow and expand its portfolio of intellectual property (IP) for both VR and AR. In their first three years, the studio has produced one of the most popular VR titles of all time (Bait!), and their games are among the highest-rated on their respective platforms. The company recently launched the first-ever third-party developer app, Angry Birds FPS: First Person Slingshot, on Magic Leap.
“The Resolution Games team is taking the lead in innovation for VR and AR games. Their team’s background, market leadership position and ability to innovate in the space is unmatched. We are thrilled to be joining their team as they set out to establish even more standards for the VR and AR games markets,” said Catherine K.C. Leung, co-founder and general partner of MizMaa Ventures.
“Every one of our investors shares our incredible enthusiasm about the future of visual computing. With the amount of interest we’re seeing from the industry around our titles, coupled with the exciting new platforms like the Oculus Quest coming to market, we foresee larger volumes of players and a viable multiplayer market. Needless to say, these are exciting times,” added Palm.