Teatime Video games, a brand new Icelandic “social video games” startup from the identical staff behind the massively well-liked QuizUp (acquired in by Glu Cell), is disclosing $9 million in funding, made up of seed and Sequence A rounds.
Index Ventures led each, however have been joined by Atomico, the European VC fund based by Skype’s Niklas Zennström, for the $7.5 million Sequence A spherical. I perceive that is the primary time the 2 VC companies have finished a Sequence A deal collectively in over a decade.
Each VCs have a good monitor file in gaming. Index counts King, Roblox and Supercell as earlier gaming investments, while Atomico additionally backed Supercell, together with Rovio, and most not too long ago Bossa Studios.
As a part of the spherical, Guzman Diaz of Index Ventures, Mattias Ljungman of Atomico, and David Helgason, founding father of Unity, have joined the Teatime Video games board of administrators.
In the meantime, Teatime Video games is conserving shtum publicly on precisely what the stealthy startup is engaged on, besides that it performs broadly within the social and cell gaming house. In a name with co-founder and CEO Thor Fridriksson yesterday, he stated a bit of extra off the file and provided that I don’t write about it but.
What he was keen to explain publicly, nevertheless, is the final drawback the corporate has got down to clear up, which is the right way to make cell video games extra social and personalised. Particularly, in a means that any social options — together with speaking with buddies and different gamers in real-time — enhances the gameplay slightly than will get in its means or is just bolted on as an adjunct to the sport itself.
The corporate’s macro thesis is that video games have all the time been inherently social all through totally different eras (e.g. card video games, board video games, arcades, and consoles), and that almost all video games actually come to life “by the interplay between individuals, opponents, and the viewers”. Nevertheless, in lots of respects this has been misplaced within the age of cell gaming, which may really feel like fairly a solitary expertise. That’s both as a result of they’re single participant video games or turn-based and performed towards invisible opponents.
Teatime plans to make use of the newly disclosed funding to double the scale of its staff in Iceland, with a specific concentrate on software program engineers, and to additional develop its social gaming providing for third get together builders. Sure, that’s proper, that is clearly a developer platform play, as a lot as the rest.
On that word, Atomico Companion Mattias Ljungman says the following “breakout alternative” in video games will see a transfer past particular person studios and titles to what he describes as basic enabling applied sciences. Linked to this he argues that the following technology of video games corporations being developed will “turn into ever extra mass market and socially related”. You may learn rather more on Ljungman and Atomico’s gaming thesis in a weblog publish not too long ago revealed by the VC agency.