Developer Playsnak, which has locations in Berlin, Germany and Los Angeles, California, has announced today that its secured $1.3 million USD in seed investment from South Korean Venture Capital investment firm K Cube Ventures. This investment will help the studio to continue development in both mobile and virtual reality (VR) fields.
Playsnak was formed in 2015, co-founded by industry veteran Paha Schulz along with other industry professionals from Crytek, NCsoft, Electronic Arts and Nintendo.
“Through this funding Playsnak will focus on developing and finding innovative VR & mobile games, as well as focusing on bringing the Asian and Western game market closer together and becoming a true global player in the game industry,” said Paha Schulz, Founder & CEO of Playsnak.
While Playsnak develops first party videogames, it does publish second and third party titles from mobile game developers around the world, mainly from Asia in the western market. In terms of VR Playsnak hasn’t yet announced the title it’s currently developing.
K Cube Ventures is a Seoul, South Korea based venture capital firm focusing on early investments mainly in mobile, tech and game related startups.
“Playnak is an internationally diverse and highly experienced team with extensive cutting-edge experiences in VR content development and global game business” said Andy Shin, Partner at Kcube Ventures who led this deal. “We expect that Playsnak will lead the game market with their in-house competency to develop innovative VR content and diverse global business competency in the evolving next-generation game market.”
As Playsnak unveils details on its VR project, VRFocus will let you know.
Source: Playsnak Raises .3million to Continue VR & Mobile Development