Teatime Video games, a brand new Icelandic “social video games” startup from the identical group behind the vastly fashionable QuizUp (acquired in by Glu Cell), is disclosing $9 million in funding, made up of seed and Sequence A rounds.
Index Ventures led each, however have been joined by Atomico, the European VC fund based by Skype’s Niklas Zennström, for the $7.5 million Sequence A spherical. I perceive that is the primary time the 2 VC companies have accomplished a Sequence A deal collectively in over a decade.
Each VCs have a good observe document in gaming. Index counts King, Roblox and Supercell as earlier gaming investments, while Atomico additionally backed Supercell, together with Rovio, and most just lately Bossa Studios.
As a part of the spherical, Guzman Diaz of Index Ventures, Mattias Ljungman of Atomico, and David Helgason, founding father of Unity, have joined the Teatime Video games board of administrators.
In the meantime, Teatime Video games is retaining shtum publicly on precisely what the stealthy startup is engaged on, besides that it performs broadly within the social and cellular gaming area. In a name with co-founder and CEO Thor Fridriksson yesterday, he mentioned slightly extra off the document and provided that I don’t write about it but.
What he was prepared to explain publicly, nevertheless, is the final drawback the corporate has got down to remedy, which is make cellular video games extra social and personalised. Particularly, in a means that any social options — together with speaking with associates and different gamers in real-time — enhances the gameplay reasonably than will get in its means or is solely bolted on as an adjunct to the sport itself.
The corporate’s macro thesis is that video games have all the time been inherently social all through totally different eras (e.g. card video games, board video games, arcades, and consoles), and that the majority video games really come to life “via the interplay between individuals, opponents, and the viewers”. Nonetheless, in lots of respects this has been misplaced within the age of cellular gaming, which may really feel like fairly a solitary expertise. That’s both as a result of they’re single participant video games or turn-based and performed in opposition to invisible opponents.
Teatime plans to make use of the newly-disclosed funding to double the dimensions of its group in Iceland, with a selected concentrate on software program engineers, and to additional develop its social gaming providing for third social gathering builders. Sure, that’s proper, that is clearly a developer platform play, as a lot as the rest.
On that be aware, Atomico Associate Mattias Ljungman says the subsequent “breakout alternative” in video games will see a transfer past particular person studios and titles to what he describes as basic enabling applied sciences. Linked to this he argues that the subsequent technology of video games corporations being developed will “grow to be ever extra mass market and socially linked”. You’ll be able to learn rather more on Ljungman and Atomico’s gaming thesis in a weblog publish just lately printed by the VC agency.