An Analysis of Gaming Investment Rounds in Europe (2022)

Adapted from:

It seems like the metaverse hype isn’t going to die down anytime soon, although mobile gaming is still where investors in Europe focus most of their energy on. For VCs looking for a return, gaming presents a daunting landscape of fickle tastes and high development costs, but if done right, offers potentially tremendous returns.

Source: Dealroom

Globally, the number of gaming investments in the first half of 2022 exceeded the previous (record-breaking) year, and global revenues are forecast to rise from $175.8bn in 2021 to $218.7bn in 2024.

While a relatively small percentage of investments into gaming companies to date in 2022 went to mobile gaming startups, the subsector drew in the most investment across the industry with the highest average round size (€36.2m). Metaverse and Web3 companies attracted the second most capital, but with a far smaller average round size (€9.2m), followed by esports platforms (€7.5m).

Source: Dealroom

Some examples of deals that we would like to see in our portfolio (given our focus):

  • Nefta — platform for developing Web3 games; HQ: Berlin, Germany. $1m seed round, June 2022.
  • Moralis — developer platform for Web3 applications, including games; HQ: Stockholm, Sweden. $40m Series A, May 2022.
  • Playzap — play to earn gaming platform; HQ: Barcelona, Spain. Seed round (undisclosed amount), May 2022.
  • RSTLSS — Web3 platform for creating digital wearables; HQ: London, UK. $3.5m seed round, March 2022.
  • Banger Games — play to earn platform for gamers; HQ: Madrid, Spain. €10m seed round, February 2022.
  • Ajuna — Web3 platform for game developers using Unity and Unreal engines; HQ: Switzerland. $2m seed round, February 2022.
  • Bayes Esports — esports data provision service; HQ: Berlin, Germany. €6m seed round, May 2022.
  • Leagues — SaaS platform for national esports league; HQ: Denmark. €200k grant, March 2022.
  • Aggero — analytics and monetisation platform for esports and streaming industry; HQ: London, UK. $2m seed round, March 2022 (we met them some time back but had to pass as we are still in fundraising stage).
  • SwiftSkill — analytics tool for competitive gamers; HQ: Guernsey, UK. £150k seed round, January 2022.
  • Gamestry — video platform and community for gamers; HQ: Barcelona, Spain. $3m seed round, April 2022.
  • Konect — website building tool for gamers creating content; HQ: Guernsey, UK. €800k seed round, March 2022.
  • Soba — no-code tool for game development; HQ: Berlin, Germany. $13.5m seed round, June 2022.
  • Lurkit — content creation platform for game developers and publishers; HQ: Linköping, Sweden. $2.7m seed round, June 2022.
  • Machinations — collaborative platform for game design and balancing; HQ: Luxembourg. $3.3m Series A, May 2022.
  • LootLocker — cross-platform development tool for indie studios; HQ: Stockholm, Sweden. $2.1m seed round. May 2022.
  • Coherence — cloud-based tool for multiplayer games; HQ: Malmo, Sweden. $8m seed round, April 2022.
  • Improbable — cloud-based platform for large-scale game development; HQ: London, UK. $150m Series B, April 2022.
  • Sloyd — platform for building 3D animated assets; HQ: Oslo, Norway. €600k seed round (6m kr), February 2022.
  • Speech Graphics — audio driven facial animation software; HQ: Edinburgh, UK. $7m seed round, February 2022.
  • Return Entertainment — platform for building cloud-based games; HQ: Helsinki, Finland. $6m seed round, February 2022.
  • LootLocker — cross-platform development tool for indie studios; HQ: Stockholm, Sweden. Undisclosed  pre-seed round. January 2022.
  • App Radar — AI-powered software to help mobile games be discovered in app stores; HQ: Graz, Austria. €2m seed round, January 2022.
  • Nware — cloud gaming platform; HQ: Madrid, Spain. €1.1m seed round, January 2022.

If you are a similar company that does similar things to some of these companies, feel free to reach out to us.

For the investors in the market, be part of our fund to explore the unlimited world of esports and gaming.

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