Independent Game Developer Kobojo Closes $7M Round Series B Funding led by Oxford Capital Partners
Oxford Capital Partners and Endeavour Vision leads investment round with participation from Scottish Investment Bank
Independent game developer Kobojo has closed $7M in Series B financing, led by Oxford Capital Partners with participation from returning investor Endeavour Vision as well as the Scottish Investment Bank, the investment arm of Scottish Enterprise. Blueprint Partners, a European technology corporate finance boutique, orchestrated the fund raising round.
Kobojo is an independent game developer based in Paris, France, with an additional office in Dundee, Scotland and teams in Kyoto, Japan and Tokyo, Japan. This announcement comes as the company prepares for the upcoming release for its next project, the epic role-playing game (RPG) adventure Zodiac, whose development team includes the legendary talent that created such classic video games as Final Fantasy VII and Final Fantasy Tactics. The round of funding will be used to expand the studio to contribute to production on both Zodiac and future, unannounced game titles.
The company had previously accepted an RSA grant offer of $750,000 to establish its Dundee office from Scottish Enterprise. This was to create a new development team dedicated to developing Zodiac.
“Kobojo has grown beyond being a social-casual developer and is creating world-class, AAA video game titles with some of the best talent on the planet,” said CEO Mario Rizzo. “This crucial round of funding enables us to forge ahead to create absolutely amazing RPG experiences for a massive global audience of gaming customers that grows daily.”
"Kobojo is a rising star in mobile gaming, a sector that shows tremendous potential. It has transcended geographical regions and achieved success in America, Europe and Asia”, said Martyn Holman of Oxford Capital Partners. “The studio’s deep experience in all levels of game development, particularly in mobile and core gaming, position it for strong growth in the future.”
“There is significant M&A interest in the mobile gaming market, particularly for companies that have shown real innovation. Kobojo’s expertise in touch devices, multiplayer technology and hand drawn graphics make it stand out as a future leader and we expect the company to attract significant interest,” said Holman.
‘’We are very pleased that Scottish Enterprise has played a part in attracting Kobojo to the Scottish game development landscape,’’ said Kerry Sharp, Head of the Scottish Investment Bank. ‘’As a developer of in-demand games, Kobojo has a proven track record of success and with its new Dundee office, the studio is set for many more triumphs.’’
About Kobojo
Kobojo develops engaging, online RPG titles that are designed for touch devices. The company is passionate about developing high-quality multiplayer game mechanics and is known for its extraordinary hand-drawn 2D graphics. It has created and is currently managing the highly successful mobile RPG Mutants: Genetic Gladiators. Kobojo is a private company, founded in 2008, with headquarters in Paris, France and a new development studio in Dundee, Scotland.
About Oxford Capital
Oxford Capital is an investment manager with two distinct strategies. It provides Growth Capital investment to smaller companies from a range of industries, helping entrepreneurs grow their businesses in their chosen markets. It also invests in Infrastructure, providing finance to companies that own and operate revenue-generating infrastructure assets.
Private clients can invest in both strategies through a range of tax-efficient investment opportunities, including Enterprise Investment Scheme investments. Institutional investors can invest both through Limited Partnership funds and through tailored investment programmes.
About Endeavour Vision Ltd
Endeavour is an internationally recognized investor in the technology and healthcare sectors. The team, which combines successful investment professionals and world-class industry veterans, has executed more than 60 investments within its focus verticals.