Oxford Capital leads $7m funding round for independent games developer Kobojo

$7m funding round will finance the development of digital games for the global video gaming market.

Oxford Capital has led a $7m funding round for independent Games developer, Kobojo, with participation from the Scottish Investment Bank and Endeavour Vision Capital. The investment will support the roll-out of Kobojo’s new role-playing adventure, Zodiac and will fund the development of further digital games for the global market.

Kobojo develops online role-playing games which are designed for touch devices. The company specialises in developing high-quality multiplayer game mechanics and is known for its hand-drawn graphics. It has created and is currently managing the highly successful mobile game Mutants: Genetic Gladiators. Kobojo has its headquarters in Paris, France and a development studio in Dundee, Scotland.

The team behind Kobojo’s latest game, Zodiac, which will be released in 2015, includes developers who created Final Fantasy VII, one of the best-selling games of all time, with the sales exceeding10.5 million copies worldwide.

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Martyn Holman, Investment Director, Oxford Capital said: “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. 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.”

Mario Rizzo, Chief Executive Officer, Kobojo, said: “Kobojo is creating world-class video games backed by some of the most successful development talent in the world. This funding round enables us to forge ahead to create amazing digital game experiences for the massive global audience of gaming customers that grows daily.

“We are very pleased to have Oxford Capital on board as an investment partner.  It has an outstanding track record of helping businesses to growth and to establish themselves successfully in international markets.”

Kobojo was advised on the fundraising by Blueprint Advisers, a European corporate finance boutique which focuses on the technology, media and telecom industries.

Further reading: Is now the time to finance growth through acquisition?

Praseeda Nair

Praseeda Nair

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

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Oxford Capital
Video Games