Gaming companies raised $2.6 billion in Q1 2022

Image Source: Konvoy Ventures

In the first quarter of 2022, gaming companies around the world raised over $2.6 billion across Angel, Seed, and Series A-D funding rounds, according to Konvoy Ventures’ mid-year review. During the same quarter of 2021, 143 gaming companies had raised $1.2 billion in total.

While the first quarter saw record-breaking deals, 161 gaming companies raised $1.2 billion in the second quarter of 2022. This represents a 50% decrease in the total amount raised and 27% in the total number of deals, compared to Q1. 

This year’s biggest deal was Microsoft’s $68.7 billion Activision Blizzard acquisition, which is expected to close by mid-2023 and would turn Microsoft into the third-largest gaming company by revenue after Tencent and Sony. However, the UK’s Competition and Markets Authority announced last week that it would launch an antitrust investigation into the acquisition.

Mobile gaming continues to be the main driver of gaming revenues as the number of smartphone users and mobile game usage keep going up everyday. According to data.ai (formerly known as App Annie), mobile games will account for 60% of the total gaming revenue in 2022, with consumer spending expected to surpass $136 billion. 

Image Source: data.ai

Written by Sophie Blake

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