Theorycraft Games, formed by Riot, Blizzard and Bungie veterans, has closed another round of funding. The studio has raised $50 million to launch the competitive multiplayer game codenamed . to develop Loki.
How much money has Theorycraft Games raised?
The Series B round was led by Makers Fund, with the participation of a16z and NEA. With the $37.5 million raised last yearit brings Theorycraft’s total funding to $87.5 million.
The studio will use the funding to expand its team with new talent and produce “10,000-hour games” with multiplayer and competitive elements.
“What has drawn both talent and investors to our business is our belief that great games meet basic human needs, and a studio that is committed to meeting those needs – more than market trends, new technology or endless sequels – is a great opportunity to make an impact. about the industry we love,” CEO and co-founder Joe Tung. from Theorycraft said in a statement.
What is known about Loki and the team behind it?
Theorycraft calls Loki a “competitive, team-based game of adventure, creativity and high-stakes combat.” It’s a pretty vague description that doesn’t say much about the core gameplay and certain mechanics of the game.
Loki’s release date has not yet been announced, but the team is accepting playtest applications.
The studio was founded by former lead developers of games like Appreciate, overwatch, Haloand League of Legends. So it’s no wonder they cite these titles as inspiration for Loki.
Theorycraft Games is led by Joe Tung, former executive vice president of LoL, who is also on Halo and Destiny. The team also includes veterans from companies like Bungie, Riot Games, Blizzard and Valve.
In May, the studio also hired League of Legends game director Jon Belliss. At the moment it is looking for level, combat, gameplay and game designers.