Resolution Games secures $7.5M in a Series B investment from MizMaa Ventures, GP Bullhound, Fly Ventures and angel investor David Helgason.
Resolution Games, a Stockholm, Sweden-based virtual reality and augmented reality games developer, announced closing a $7.5M investement round.
The funding represents a series B round led by MizMaa Ventures and also including new investors from venture capital firms GP Bullhound and Fly Ventures, as well as Danish angel investor David Helgason. Existing investors GV, Partech, Bonnier Ventures, Creandum and Sisu Game Ventures also contributed to the round.
The money will be used to further grow the business and expand the company's portfolio of intellectual property for both VR and AR.
Resolution Games, founded in 2015 and led by CEO Tommy Palm, is a VR and AR games studio and publisher working on gaming titles including Angry Birds FPS: First Person Slingshot (made for Magic Leap), Bait! (their most popular title), Bait! Arctic Open, Wonderglade, Narrows and Solitaire Jester. The company has 35 employees and recorded for its last public fiscal year sales of SEK 7.5M ($850k) with a loss of 4.4M.
Prior to this round, in 2015, Resolution Games raised almost $6M from investors including Google Ventures, Creandum, Initial Capital, Bonnier Growth Media and Partech Ventures.