Index and Atomico again Teatime Video games, a stealthy new startup from QuizUp founders – TechCrunch
Teatime Video games, a brand new Icelandic “social games” startup from the identical staff behind the vastly common QuizUp (acquired in by Glu Cellular), is disclosing $9 million in funding, made up of seed and Sequence A rounds.
Index Ventures led each, however have been joined by Atomico, the European VC fund based by Skype’s Niklas Zennström, for the $7.5 million Sequence A spherical. I perceive that is the primary time the 2 VC companies have accomplished a Sequence A deal collectively in over a decade.
Each VCs have an honest monitor file in gaming. Index counts King, Roblox and Supercell as earlier gaming investments, while Atomico additionally backed Supercell, together with Rovio, and most not too long ago Bossa Studios.
As a part of the spherical, Guzman Diaz of Index Ventures, Mattias Ljungman of Atomico, and David Helgason, founding father of Unity, have joined the Teatime Video games board of administrators.
In the meantime, Teatime Video games is conserving shtum publicly on precisely what the stealthy startup is engaged on, besides that it performs broadly within the social and cell gaming area. In a name with co-founder and CEO Thor Fridriksson yesterday, he stated somewhat extra off the file and provided that I don’t write about it but.
What he was prepared to explain publicly, nevertheless, is the final downside the corporate has got down to remedy, which is tips on how to make cell video games extra social and personalised. Particularly, in a method that any social options — together with speaking with associates and different gamers in real-time — enhances the gameplay fairly than will get in its method or is just bolted on as an adjunct to the sport itself.
The corporate’s macro thesis is that video games have all the time been inherently social all through completely different eras (e.g. card video games, board video games, arcades, and consoles), and that almost all video games really come to life “through the interaction between people, opponents, and the audience”. Nonetheless, in lots of respects this has been misplaced within the age of cell gaming, which might really feel like fairly a solitary expertise. That’s both as a result of they’re single participant video games or turn-based and performed in opposition to invisible opponents.
Teatime plans to make use of the newly disclosed funding to double the scale of its staff in Iceland, with a specific concentrate on software program engineers, and to additional develop its social gaming providing for third occasion builders. Sure, that’s proper, that is clearly a developer platform play, as a lot as anything.
On that word, Atomico Accomplice Mattias Ljungman says the following “breakout opportunity” in video games will see a transfer past particular person studios and titles to what he describes as elementary enabling applied sciences. Linked to this he argues that the following era of video games firms being developed will “become ever more mass market and socially connected”. You may learn far more on Ljungman and Atomico’s gaming thesis in a weblog submit not too long ago printed by the VC agency.