UK-based gaming platform developer Polystream has secured $12m in a series A round led by Intel Capital, the corporate venturing arm of semiconductor and data technology provider Intel.
Video game developer and publisher Wargaming Group also took part in the round, as did venture capital firm Lauder Partners. It came after $1.5m in seed capital from investors including London Venture Partners and Initial Capital in 2016.
Polystream is developing a cloud-based platform that will enable users to stream and play games online without needing an account. The technology is intended to improve the costs associated with streaming 3D games and applications.
In addition to bolstering its marketing activities and investing in its technology, Polystream will use the proceeds to expand its team. It recently hired Marek Rubasinski, formerly director of media company Sky’s startup investments and partnerships team, as chief commercial officer.
Adam Billyard, Polystream’s co-founder and chief technology officer, said: “From instant on-demand gaming, massive simulations and modelling and immersive media, to the highest definition 3D applications, the cloud is enabling the creation of never-before-seen interactive experiences that can only be realised through the power of Polystream.”