independent

Wednesday 16 April 2014

Games firm led by Havok founders raises €1.6m in funding

A fledgling Kerry-based gaming firm backed by two high-profile technology entrepreneurs has raised nearly €1.6m in funding.

New Game Technologies was established by two co-founders of the successful Irish gaming firm Havok, Steve Collins and Hugh Reynolds. Havok was sold to chip giant Intel in 2007 for $110m.

The Killorglin start-up has raised finance from Enterprise Ireland, as well as internet entrepreneur Ray Nolan.

Enterprise Ireland has injected about €500,000 into New Game, while Mr Nolan has stumped up roughly €40,000 for a stake in the firm. Mr Nolan co-founded Web Reservations International in 1999. The online bookings firm posted sales of €27.3m in 2006 and a profit of €16.6m.

Stake

Iona Technologies co-founder Sean Baker has also invested in New Game, paying about €50,000 for a stake.

Other investors in New Game include the AIB Seed Capital Fund, as well as Cecil Ryan, the managing director of the Irish arm of international property support services group OCS.

Steve Collins has stepped back from his role as senior lecturer in TCD in order to become the chief technology officer of New Game.

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