Today Cyprus games studio Obelisk Studio announced it has secured $2 million from The Games Fund. This specialist early-stage VC fund invests in innovative video game developers and gametech companies.
Over the past decade, the 20-strong Cyprus-based Obelisk Studio has been a major co-development partner for Sons of the Forest, which sold over 2 million copies in the first 24 hours, and other iconic IPs, including Call of Duty, Dota 2, Fallout 76, New World and David Fincher’s episode for Love, Death & Robots.
The Games Fund’s inaugural fund raised $50 million to invest in gaming companies and founders from emerging markets in central and eastern Europe.
Ilya Eremeev, Co-Founder and Managing Partner of The Games Fund, shared:
“We believe that a well-crafted AA game, one that honours and builds upon the legacy of classic horror titles with soul and grit, is a clear opportunity.
With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game.
We are committed to continuing our support and investment in the growing gaming industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark.”
Artem Dorokhin, Co-Founder and CEO of Obelisk Studio, commented:
“We’re so happy to see the excitement that ‘Displacement’ sparks in people when we recruit and tell them about the game we work on! They see the potential even at this early stage and share our vision that the market and players are waiting for a true hardcore horror game.
The Games Fund has placed a lot of trust and support in Obelisk. Thanks to their resources and extensive connections in the industry, we’ve built all the critical infrastructure, made key hires, and kickstarted the company in record time.”
The raise will fund Obelisk’s pivot into developing independent first-party titles.
Lead image: Obelisk Studio. Artist: uncredited.