Avalanche Studios receives a SEK 100M investment from Nordisk Film.
Avalanche Studios, a Stockholm Sweden-headquartered gaming studio announced it had raised SEK 100M ($11.3M) in an investment round.
The money comes from Nordisk Film, owned by Egmont, a leading media group in the Nordic region based in Denmark. In the summer of 2016 that Nordisk Film announced setting up an investment fund of hundreds of millions of Danish crowns, dedicated to be invested in Nordic games companies. At the beginning of 2017, Nordisk Film also invested DKK 10M ($1.4M) in Flashbulb Games, a studio from Copenhagen.
Avalanche Studios, founded in 2003 by Christofer Sundberg and Linus Blomberg, develops games for PCs and the consoles market. The company has also an office in New York and employs about 270 employees.
Avalanche, led by CEO Pim Holfve, had sales of SEK 247 million ($28M) in 2016 and an operating profit of 4.6 million. Some of their gaming titles include "Just Cause," "Mad Max" and "The Hunter".