Online multiplayer studio Stoke Games raises $5.5M
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.