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Monday, August 15, 2022

Icelander-founded startup raises $41M funding to redefine the MMO landscape

Founded by Oddur Snær Magnússon, Ívar Emilsson and Mundi Vondi, Berlin-based startup Klang Games has collected $41 million in a Series C funding round co-led by Animoca Brands and Kingsway Capital, with the participation of Anthos, Novator, Supercell, Roosh, AngelHub, and New Life Ventures. Former Studio Director and Lead Producer at EA, Isabelle Henriques will be new co-CEO and COO of the entertainment & game development studio. The round where the startup reaches nearly $80M of funding in total enables Klang Games to grow its business and its team while focusing on development and improvement of SEED, a virtual world that allows players to self-govern and participate in a real player-driven economy in a vast, sandbox environment.

Klang Games Raises $41 Million in Series C Funding Round to Grow the Company, and Further Develop SEED, a Player-Built MMO Universe

Isabelle Henriques, Former Studio Director and Lead Producer at Electronic Arts, Brought on as New Co-CEO and COO

Klang Games, an innovative game development studio based in Berlin, today announced the completion of its Series C funding of $41 million, increasing its total funds raised to nearly $80 million. The funding round was co-led by Animoca Brands and Kingsway Capital, with participation from Anthos, Novator, Supercell, Roosh, AngelHub, and New Life Ventures.

Klang Games is pushing the limits of what constitutes an MMO world with SEED, a persistent, large-scale virtual world in which players shape their realities. Set in the new world of Avesta, SEED offers players a platform where they can explore, participate in a player-driven economy, self-govern, and contribute to their community. SEED is experienced through its AI-driven virtual humans, called Seedlings. Seedlings are customizable, allowing for creative player expression, and rely on the active caretaking skills of the players. Currently in the Pre-Alpha state, SEED’s focus is on creating an online space where people can connect, work together, and build strong communities.

Klang Games, Mundi Vondi“This funding not only gives us the security of knowing that we have the resources for years of development, it also shows us that people believe in our vision, which is the best motivation for us,” said Mundi Vondi, CEO of Klang Games. “We are so excited and honored to get this level of trust from investors. It allows us to steam ahead and really pursue the vision of our wildest dreams! If you are a developer, game designer, or just a super cool person, now is the right time to join us!”

This new round of funding will be used to expand the rapid growth of Klang Games in order to accelerate the development of SEED. Specifically, the company will focus on:

  • Company growth, doubling the current staff size within the next 12 months, from 70 up to 150 people
  • Creating a collaborative and inspiring work environment in the heart of Berlin
  • Further developing and improving the scalable back-end and technical infrastructure of SEED

Klang Games

With the successful Series C funding round, Klang Games is also announcing a new member of its executive team. Isabelle Henriques joined Klang Games’ management as Co-CEO and COO in February of 2022, bringing with her 14 years of experience in management, operations, strategy and production. Isabelle has a diverse background, previously acting as Studio Director and Lead Producer at Electronic Arts, and has worked on multiple AAA blockbuster franchises including The Sims, Call of Duty, and Madden.

“I am thrilled to be working with Klang Games,” said Isabelle Henriques, Co-CEO and COO of Klang Games.

Klang Games, Isabelle Henriques“SEED is really pushing the boundaries of the gaming industry and I am excited to be a part of it. With this secured funding, our course is set to realize one of the most ambitious game projects I am aware of in the gaming market. Since coming in contact with Klang and SEED, I have been amazed by the quality of the team and the innovative nature of their vision. I cannot wait to be a part of making this unprecedented game a reality.”

Co-leading this round of funding are Animoca Brands and Kingsway Capital, a London-based investment firm. Animoca Brands is a renowned Web3 gaming company and prolific investor that develops and publishes a plethora of games, tokens, and other products. With its extensive experience and over 340 investments in companies focusing on the development of Web3 and the open metaverse, Animoca Brands will provide Klang Games with critical support and networking opportunities.

“We believe that Klang Games’ combination of design and technical prowess will ensure that SEED is a successful project, and our investment reflects our confidence in the team’s vision,” said Yat Siu, Executive Chairman and Co-Founder of Animoca Brands “We are delighted to explore the future of humanity together.”

“We are tremendously impressed by the vision of SEED and the diverse high-performance team that Klang Games has built,” says Afonso Campos of Kingsway Capital. “SEED’s technological architecture, specifically its gigantic scale and impressive autonomously performing AI, enables a new type of entertainment for global audiences.”

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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