Traplight, a Finnish mobile game studio focussed on highly accessible mid-core games, has announced an €8 million funding round led by EQT Ventures, with participation from Play Ventures and existing investors Initial Capital and Heartcore Capital. The funding will be used to double down on Battle Legion, a new mobile game that the studio is launching today.
“Gaming is one of the world’s most explosive industries, worth around $120.1 billion in 2019, and mobile gaming accounts for more than half this figure,” said Lars Jörnow, partner and investment advisor at EQT Ventures. “Many of today’s top-grossing mobile games have been produced by Nordic gaming studios and the Traplight team is set to continue this rich heritage.
Since the 2016 success of another title, Big Bang Racing, and a $2.7 million fundraising round in 2017, the studio’s 30-strong team has focussed on Battle Legion. “We’ve learnt a huge amount in the past two years through active testing of different game ideas, building prototypes with small teams, and improving our production processes,” said Riku Rakkola, co-founder and CEO at Traplight. “We now have a game with huge potential.” In a press release, the Nordic company said the new game has already shown “exceptionally high engagement metrics and a positive community response”. It’s a mass battle game, where players focus on strategy, AI-controlled troops do all the fighting, and spectators can join in to watch. EQT Ventures is no stranger to gaming or investing in the gaming sector. In December 2018, the Swedish firm had its first exit when Small Giant Games, a Finnish mobile gaming studio, was acquired by Zynga in a deal worth $700 million. Founder Lars Jörnow previously spent six years at King Digital, where he set up the mobile games team that launched Candy Crush Saga in 2012.
Photo: Traplight team