Mainframe Industries in a €20 million investment deal led by a16z.

Mainframe Industries, a Reykjavik, Iceland and Helsinki, Finland-based cloud-native games gaming studio, announced the completion of a €20 million ($22.8M) financing round.

The money was raised from investors led by US-based investors from a16z, joined by multiple angel investors including Twitch cofounder Kevin Lin; Anton Gauffin, CEO of Huuuge Games; Cédric Maréchal, former senior vice president of international at Activision Blizzard; and Taavet+Sten (founded by entrepreneurs Taavet Hinrikus and Sten Tamkivi).

Andreessen Horowitz’s Jonathan Lai is joining Mainframe’s board.

Mainframe Industries, founded in 2019 and led by CEO Thor Gunnarsson, is a game studio aiming to develop a cloud-native, open-world MMO, specifically designed for cloud gaming, with cross-platform play across mobile, PC, and TV.

Prior to this round, upon being founded, Mainframe raised €2 million funding from a range of Nordic investors including Maki.vc, Play Ventures, Crowberry Capital, and Sisu Game Ventures, followed by series A closed at €7.6M led by Andreessen Horowitz in 2020.