Studio 42 raises $3.6M for development of its first game
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Summary
Mobile games developer Studio 42 has raised $3.6m in a funding round led by Play Ventures, with participation from GEM Capital and Arcadia Gaming Partners.
The funds will be used to develop Studio 42’s first title, which will be a puzzle game combining “simple yet engaging experiences” that is being created by a team working in four countries.
Chief executive Alexander Bogdanov said the investment would allow the company to focus on its core strengths.
The company intends to use a fast-iteration model using AI to test out new ideas and evaluate up to 10 new product hypotheses each year.
Play Ventures founding partner Henric Suuronen said the investor was “thrilled to back Aleksandr, Ivan, Pavel and the incredible team they’ve brought together” at Studio 42.