Cortopia raises $2.5M to evolve its VR game, Wand.
Cortopia, a Stockholm, Sweden-based gaming company, announced securing SEK 21M ($2.5M) in an investment round.
The money comes from Init Invest and other undisclosed local investors, and will be used to evolve its existing game, Wand, as well as for developing other titles.
Cortopia, founded in 2016 and led by CEO Andreas Skoglund, is a VR-studio with a steady organic income built on a close relationship with major platform partners like Oculus, Google, Samsung and Pico. The company launched Wand in 2016, a first person VR experience that offers duels against other players online.
Cortopia was almost breakeven with SEK 2M ($240k) in revenues in 2016.