Thursday 13 December 2018

Digit raises $1.5m from US gaming firm Scopely

Kings of the Realm
Kings of the Realm
John Mulligan

John Mulligan

Dublin-based Digit Games Studios has raised an additional $1.5m (€1.2m) from US gaming firm Scopely.

It marks the latest investment by the US company in the studio, with the California firm now having injected $12.4m (€10.3m) into the games developer since 2015.

Of the most recent $1.5m in funding secured by Digit from Scopely, $500,000 was provided in January, with the remaining $1m injected last month.

The two firms signed a partnership in 2015 for a multi-game publishing deal.

It also brings the total raised by the Irish company since its 2012 launch to more than €13.5m. In its launch year, it sourced €2.7m in funding from venture capital firm Delta Partners, and has received additional funding from Enterprise Ireland and ACT Venture Capital.

The latest funding from Los Angeles-based Scopely was secured by Digit as it prepares to launch a new game this year.

Digit launched its first and so far only game, 'Kings of the Realm', in 2014. It's a cross-platform fantasy strategy game and cost about €3.5m to develop.

Founded by its chief executive, Richard Barnwell, Digit bills itself as Ireland's largest indigenous games developer.

The latest publicly-available set of accounts for the business show that it made a €2.7m loss in 2016 as it continued to develop its product and boost its headcount.

It almost doubled its workforce to nearly 60 staff in 2016. It made a €1.7m loss in 2015.

Scopely was founded in 2011 and launched its first game in 2012.

Earlier this year, Scopely was valued at about $800m (€669m) after it sought to raise up to $125m in a fresh round of funding.

Irish Independent

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