Oxford Capital Partners and Endeavour Vision lead investment round with participation from Scottish Investment Bank.
Paris – May 20th, 2015 – Independent game developer Kobojo has closed $7M in Series B financing, led by Oxford Capital Partners with participation from returning investor Endeavour Vision as well as the Scottish Investment Bank, the investment arm of Scottish Enterprise. Blueprint Partners, a European technology corporate finance boutique, orchestrated the fund raising round.
Kobojo is an independent game developer based in Paris, France, with an additional office in Dundee, Scotland and teams in Kyoto, Japan and Tokyo, Japan. This announcement comes as the company prepares for the upcoming release for its next project, the epic role-playing game (RPG) adventure Zodiac, whose development team includes the legendary talent that created such classic video games as Final Fantasy VII and Final Fantasy Tactics. The round of funding will be used to expand the studio to contribute to production on both Zodiac and future, unannounced game titles.
The company had previously accepted an RSA grant offer of $750,000 to establish its Dundee office from Scottish Enterprise. This was to create a new development team dedicated to developing Zodiac. “Kobojo has grown beyond being a social-casual developer and is creating world-class, AAA video game titles with some of the best talent on the planet,” said CEO Mario Rizzo. “This crucial round of funding enables us to forge ahead to create absolutely amazing RPG experiences for a massive global audience of gaming customers that grows daily.” “Kobojo is a rising star in mobile gaming, a sector that shows tremendous potential. It has transcended geographical regions and achieved success in America, Europe and Asia”, said Martyn Holman of Oxford Capital Partners.
“The studio’s deep experience in all levels of game development, particularly in mobile and core gaming, position it for strong growth in the future.” “There is significant M&A interest in the mobile gaming market, particularly for companies that have shown real innovation. Kobojo’s expertise in touch devices, multiplayer technology and hand drawn graphics make it stand out as a future leader and we expect the company to attract significant interest,” said Holman. ‘’We are very pleased that Scottish Enterprise has played a part in attracting Kobojo to the Scottish game development landscape,’’ said Kerry Sharp, Head of the Scottish Investment Bank. ‘’As a developer of in-demand games, Kobojo has a proven track record of success and with its new Dundee office, the studio is set for many more triumphs.’’