Mighty Bear Games closes US$775K round led by Rocket’s VC arm

Singapore-based Mighty Bear Games has been operating in stealth so far, but the startup has revealed itself today as it announced the closing of a pre-seed funding round worth US$775K from Rocket Internet’s investment arm Global Founders Capital.

The studio comprises of former employees from Nonstop Games, a company that developed the Heroes of Honor. After it was closed in October 2016, the team turned down opportunities in Europe and the United States in order to launch a new, globally-focused studio in Singapore.

Mighty Bear is led by co-founder and CEO Simon Davis, who has previously worked at King, Ubisoft, and Bigpoint. Meanwhile, the team largely composed of former NonStop employees and has also previously held down roles at big-name studios like Ubisoft, EA, Lucasarts, Disney, Gameloft, and Jagex.

Working together, the team aims to create games that will combine the depth of desktop gaming with the accessibility of mobile titles. The startup is currently hosted at Pixel Studios, a co-working space for gaming startups and has previously been incubated by the Singapore government.

Meanwhile, other portfolio firms of Global Founders Capital include eBay, LinkedIn, Facebook, Trivago, and Groupon. The game studio was launched following the closure of Nonstop Games last year.

The company said the proceed from the pre-seed round will go towards the development of their first game which would be announced later this year. The first title is a mobile massively multiplayer online role-playing game and goes by the name Project Loot.

“Project Loot is a working title,” said co-founder and CEO Simon Davis. “The game is trying new things and we think it has the possibility to reach out and cross the traditional boundaries of mainstream and hardcore gamers.”

“Mighty Bear is committed to creating the next generation of mobile gaming hits – AAA experiences which can be enjoyed by everyone, anywhere,” said Davis. “Global Founders Capital has a track record of success and an international focus. We’re tremendously excited to be collaborating with them on building games which will be loved by both core and casual gamers.”