Jordan Bevan
Mobile game studio Cosmic Lounge announced that it has raised €4 million ($4.4 million) in a seed funding round led by venture capital firm Transcend.
Founded by former EA, King, Rovio, and Seriously veterans in 2022 with pre-seed financing from Sisu Game Ventures, Cosmic Lounge develops mobile games in the free-to-play puzzle game genre.
“We wanted to found a company which applies new ways of game making,” said Cosmic Lounge co-founder Tomi Huttula who previously served as senior director of product management and VP of technology products at both EA and King, respectively. “One of the key priorities for us is to be able to efficiently and extensively evaluate the product-market fit throughout the whole development process, enabling us to produce games our target audiences really love to play.”
Based in Helsinki and Stockholm, the studio will use the funding to develop free-to-play puzzle games using the Puzzle Engine, its AI-enhanced development engine.
Founded in San Francisco by gaming veterans, Transcend’s portfolio features a range of digital entertainment companies including thatgamecompany, Crop Circle Games, Polygon, Roboto Games, IndiGG, Big Run, and Nifty Games.
Transcend stated that it has stayed away from the mobile puzzle games category until now due to intense competition and high obstacles, but they believe that Cosmic Lounge is “equipped to become a “trailblazer” in this field” with its experience, imagination, and innovative technology.
“We are profoundly impressed with Cosmic Lounge’s vision to fuse their deep puzzle game domain expertise with a proprietary AI-enhanced game engine,” said Brett Krause, Managing Director at Transcend. “We’re confident they have the tools to power original game design and content creation with rapid iteration, and that they will produce the next blockbuster puzzle game franchise.”
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