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Online multiplayer studio Stoke Games raises $5.5M

Feb 8, 2024
Illustration of a gaming control with a dollar sign cable

Illustration: Eniola Odetunde/Axios

San Francisco-based studio Stoke Games has raised $5.5 million in seed funding to build online multiplayer games and is planning to raise more capital later this year.

Why it matters: New independent studios have garnered investor interest as online gaming's popularity continues to rise.

Details: BITKRAFT Ventures led the round and was joined by Riot Games, 1Up Ventures and angel investors.

  • The round closed in May 2023 but was announced Thursday, along with additional information about their work. The studio has 14 people and operates remotely. Its inaugural game is "shooter-adjacent," the press release said.
  • "It's a slower-tempo game that emphasizes judgment, game knowledge, and strategy, hence why we're calling it a strategic shooter," Stoke Games co-founder Veigar Bouius said in a statement.
  • The founders have worked on League of Legends, Multiversus and Starcraft 2. Past job experience includes Riot, Blizzard, Respawn, Epic Games, Bungie and Phoenix Labs.

What's next: The studio plans to raise Series A funding this year.

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