Tommy Palm’s VR games studio Resolution Games raises $25 million
Stockholm-based VR games studio Resolution Games has raised $25 million in a Series C funding round. The influx of capital is slated to accelerate growth and scale ahead of projected market growth. Resolution Games has raised a total of $38.5 million to date. Resolution Games was founded in 2015, and if the name Tommy Palm is ringing any bells, you’ll remember him as the Game Guru behind King’s Candy Crush Saga, where he helped lead the company to its IPO at a $7 billion valuation. “Six years ago, Resolution Games was one of the first studios focused on VR and AR. We’ve learned a lot, worked in a time with limited technology, survived a small market, and have continued to think big-picture and long-term,” commented Palm. “We see vast potential in VR and that the market is maturing. We want to up the game and standard for quality to ensure VR users have the best possible experience, and that VR games not just meet - but surpass - the potential from what we’ve seen on other platforms like PC and console.” The funding round was co-led by Qualcomm Ventures and BITKRAFT Ventures and saw participation from Knutsson Holdings. Prior investors GV, MizMaa, GP Bullhound, Partech, Creandum, Initial Capital, Bonnier Ventures, and Sisu Game Ventures all followed on. As part of the deal, Qualcomm’s Boaz Peer will join the board of directors, and BITKRAFT Ventures’ Malte Barth will be a board observer.
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