US-based video game studio Theorycraft Games has launched with $37.5m raised in a funding round led by internet company NetEase, VentureBeat reported yesterday.
The round also featured venture capital firms New Enterprise Associates, Bitkraft Ventures and Griffin Gaming Partners, investment firm Sisu Game Ventures and undisclosed strategic angel investors.
Theorycraft is developing online multiplayer games that will be accessible across multiple platforms. Its executives draw on experience from game studios such as Riot, Bungie, Blizzard and Valve, and the funding has been raised to launch the business and hire from a diverse pool of talent.
A statement on the Theorycraft Games website said: “We are on a mission to make deep, 10,000-hour games that are just better when played with friends. We believe games serve fundamental human needs: the need to belong; the need to express one’s creativity; the need to master something.”