Swedish VR games studio, Resolution Games, said it has closed a Series C funding round of $25 million. The round was co-led by Qualcomm Ventures LLC and BITKRAFT Ventures, followed by Knutsson Holdings AB.
Resolution Games said it has seen a desire from the communities for live games, and hence, the studio plans to dedicate more resources to ongoing development of existing titles as well as delivering additional live games.
Already with more than 100 employees internationally, this latest infusion of capital allows the studio to accelerate company growth even further and scale ahead of the projected market growth as the industry model shifts toward games as a service (GaaS), which requires larger teams to support games post-launch with live-ops teams.
“Six years ago, Resolution Games was one of the first studios focused on VR and AR. We’ve learned a lot, worked in a time with limited technology, survived a small market, and have continued to think big-picture and long-term,” said Tommy Palm, CEO of Resolution Games.
“We see vast potential in VR and that the market is maturing. We want to up the game and standard for quality to ensure VR users have the best possible experience, and that VR games not just meet – but surpass – the potential from what we’ve seen on other platforms like PC and console.”Tommy Palm, CEO