French mobile game startup Oh BiBi has secured a Series B funding round of $21 million led by Atomico with participation from Korelya Capital. Atomico partner Mattias Ljungman, Atomico venture partner Alexis Bonte, and Korelya Capital partner Paul Degueuse will join the Oh BiBi board as part of the deal.
OhBiBi has recently soft-launched FRAG, a multiplayer shooter for iOS and Android, which is looking to compete with the massively popular Fortnite. The game “features real-time multiplayer matches where players control a team in ‘short but epic’ battles,” the company stated in a press release. Players form teams of five unique heroes with different abilities who can use different weapons and take them to the arena for a fight.
“When we published our games investment thesis we identified a huge trend in mobile games will be around PC and console game genres that historically haven't made the successful transition to mobile,” Ljungman said. “We believe there is an opportunity there to create deeper, more engaging games on mobile, that keep players coming back for more and we believe that Oh BiBi is the best games company in the industry to tackle this challenge.”
Founded in 2012, Oh BiBi is known by its mobile titles such as the arcade racing game SUP that has seen some 30 million downloads to date. Its co-founders Stanislas Dewavrin and Martial Valery took part in the creation of Gameloft’s most successful titles, including Minion Rush (860 million players) and Asphalt (650 million players)