Mobile Video Game Studio Gets $5 Million From AccelTuesday, April 1, 2014
Pasadena mobile game maker Industrial Toys announced Tuesday that it has secured $5 million in Series A funding from Accel Partners, according to a statement.
Alex Seropian founded Industrial Toys two years ago. He also founded Bungie Software in 1991, the studio best known for creating the popular “Halo” franchise. Microsoft bought Bungie in 2000.
Industrial Toys markets itself as a studio that delivers “immersive, high-production value content for today's core gamer,” focusing mainly on the tablet platform. The company will launch its first title, “Midnight Star,” a sci-fi first-person shooter, in beta form this summer.
Seropian said in a statement that the company thinks it has spotted a gap in the expanding game market.
“Today’s tablets are just as good, if not better gaming platforms than the consoles we built games for in our past,” he said. “However, there isn’t a ton of great content for people like us.”
Accel Partners has vast experience funding video-game makers, having invested early in companies like Rovio, makers of the “Angry Birds” franchise.