Fast Travel Games Closes $2.1 Million Series A Round of Funding
“Notable Nordic Investors Help Fuel the VR Games Studio’s Continued Growth and Upcoming Game Launch “
Fast Travel Games, the VR games studio founded by industry veterans from Rovio, EA and DICE, today announced it has raised a $2.1 million (USD) series A funding round. The round was led by Industrifonden, one of the most active and largest venture capital firms in the Nordics, with participation from Creades, Inbox Capital and existing investor, Sunstone Capital. Collectively, the group of participating investors brings strong technology and games industry expertise with portfolio companies such as Soundtrack Your Brand, Qapital, Futureplay, Mojiworks, Avanza, FishBrain and Acast.
With this latest infusion of capital, the company’s total funding comes to $2.9 million (USD), which will primarily be used to launch their first game and expand the team. Coming soon, the action-adventure game is led by Mirror’s Edge Catalyst design director and Fast Travel Games co-founder Erik Odeldahl and will be available on all major VR headsets.
“While still in its infancy, virtual reality is becoming a platform where consumers can play and engage with games like never before,” said Oskar Burman, Fast Travel Games’ CEO and co-founder / ex-head of studio of Rovio Stockholm. “We are excited to have these prominent Nordic investors by our side as we strengthen our team and expand upon our ability to bring these experiences to life for players.”
Beyond completing and launching its first title, Fast Travel Games will also use the latest funding to accelerate the growth of its team, allowing the studio to simultaneously begin pre-production of its next game. The studio plans to double in size in the year ahead and, since launch, has steadily grown its team with additional industry veterans who bring extensive experience from companies includingEA, DICE, Guerilla Games, Rovio and Avalanche Studios. The team has been involved in designing and developing games such as Star Wars Battlefront 2 (launching this holiday season), Horizon Zero Dawn, Battlefield One, Mirror’s Edge Catalyst, Just Cause 2 and Angry Birds 2.
“The gaming industry has been under served by venture capital looking from a return on investment perspective. We see huge opportunity in VR moving to mass market and ubiquity. Combine these two factors with a stellar team and you have something that’s a very attractive investment,” said John Sjölander, Investment Manager at Industrifonden. “With Fast Travel Games’ deep-rooted expertise and track record within the games industry, and with really good co-investors, we’re very excited for this investment.”
Fast Travel Games’ founders will be sharing additional details about the company’s growth during a presentation today at Invest in Games 2017, Sweden’s leading event for developers and investors in the video game industry. For more information and to stay in tune with upcoming news and game launches go to www.fasttravelgames.com
About Fast Travel Games:
Fast Travel Games is a VR games studio focused on exploring VR gameplay experiences rich in social and storytelling components. The Stockholm, Sweden-based company was founded in 2016 by industry leading veterans with a proven history of creating the world’s most immensely popular games the likes of Angry Birds 2, Mirror’s Edge and the Battlefield series as leaders at global games studios Rovio, EA, DICE and elsewhere.
Industrifonden is a Nordic venture capital investor, partnering with tech and life science companies with global potential. Industrifonden-backed companies include: Qlik, Arcam, Soundtrack Your Brand, Barnebys, Fishbrain and Qapital. www.industrifonden.
All trade names are trademarks of their respective owners.