Says new funding will “allow us to focus on creating our own IP across multiple platforms”
Company raises $1M in private investment round, shares now trading on Poland’s NewConnect share market
Independent European developer, Vivid Games, today announced it has secured $1,000,000 in funding from a well respected international VC specialising in early stage technology companies. The capital provided by the funding round will be used by Vivid to expand the business through the opening of new offices and new staff hires, to enable it to focus on creating more unique gaming IP alongside its existing licensed properties, and to take more games onto more platforms including mobile, console, handheld and online.
Vivid has also listed stock in the company on Poland’s alternative NewConnect share market - similar to London’s AIM - run by the Warsaw Stock Exchange. Shares in Vivid Games began trading yesterday morning with the trading symbol VVDA, valuing the company at 10M PLN - approximately £2,000,000 - and making it the 5th games developer listed on the exchange.
Remigiusz Koscielny, CEO of Vivid Games, said “the capital we will be able to raise through this funding round is essential for us to grow as quickly as we need to if we are to grab the massive opportunity in front of us. We’ve already had some great successes with games like Speedball 2 Evolution™ on mobile and PSN, Smartphone game Neon Mania which has already had well over a million downloads and our recent official FIM Speedway game, which is doing really well on iOS and Android. We can now focus on growing our development teams in Poland, scale up our studio in London, and most importantly, invest much more in developing our own IP and build a proper multi-platform approach to all of our games. As we’ve seen from the announcements at E3, the console business is still strong, and with the explosion in mobile and social gaming, it’s an exciting and challenging time to be in the games business.”The funding also comes at a time when Vivid is about to release its roadmap for the rest of 2012 (look for news on this soon) making it a period of great activity within the company. You can view trailers for many of Vivid’s games on its official YouTube
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