Teatime Video games, a brand new Icelandic “social video games” startup from the identical group behind the vastly widespread QuizUp (acquired in by Glu Cell), is disclosing $9 million in funding, made up of seed and Collection 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 Collection A spherical. I perceive that is the primary time the 2 VC companies have carried out a Collection A deal collectively in over a decade.
Each VCs have a good observe file 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 conserving shtum publicly on precisely what the stealthy startup is engaged on, besides that it performs broadly within the social and cell gaming area. In a name with co-founder and CEO Thor Fridriksson yesterday, he mentioned a bit extra off the file and given that I don’t write about it but.
What he was keen to explain publicly, nonetheless, is the final downside the corporate has got down to remedy, which is methods to make cell video games extra social and personalised. Particularly, in a approach that any social options — together with speaking with buddies and different gamers in real-time — enhances the gameplay relatively than will get in its approach or is just 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 completely different eras (e.g. card video games, board video games, arcades, and consoles), and that almost all video games actually come to life “via the interplay between folks, opponents, and the viewers”. Nevertheless, in lots of respects this has been misplaced within the age of cell 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 scale of its group in Iceland, with a selected deal with software program engineers, and to additional develop its social gaming providing for third occasion builders. Sure, that’s proper, that is clearly a developer platform play, as a lot as the rest.
On that word, Atomico Accomplice Mattias Ljungman says the following “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 following technology of video games firms being developed will “grow to be ever extra mass market and socially related”. You may learn way more on Ljungman and Atomico’s gaming thesis in a weblog put up just lately printed by the VC agency.