Bitmagic Secures $4 Million in Seed Round
Bitmagic, a Helsinki, Finland-based company with a mission to democratize game development, has secured $4 million in seed funding.
The company also announced the launch of its platform, which allows users to create 3D multiplayer games from simple text prompts on Steam Playtest.
The round was led by Korea Investment Partners (KIP) and included contributions from Supercell, Sisu Game Ventures, and notable angel investors.
Korea Investment Partners (KIP) is a subsidiary of Korea Investment Holdings (KIH), one of the largest private financial groups in Korea. It serves as the venture capital and private equity arm of KIH. With global offices in China (Beijing, Shanghai, Guangzhou, Chengdu), Singapore, and the U.S., KIP manages 58 funds with an AUM of US$4 billion.
The company will use the funding to propel its mission to democratize game development through its innovative text-to-game platform.
Founded in 2021 by Jani Penttinen, Markus Kiukkonen, Juhana Wirtanen, and Markus Hjort, Bitmagic specializes in innovative solutions that transform textual descriptions into fully interactive, multiplayer 3D games. Their cutting-edge platform leverages advanced AI techniques to remove traditional barriers in game creation, empowering anyone to bring their game ideas to life.
Funding Details
Company: Bitmagic
Raised: $4.0M
Round: Seed Round
Funding Month: July 2024
Lead Investors: Korea Investment Partners
Additional Investors: Supercell, Sisu Game Ventures
Company Website: https://bitmagic.games/
Software Category: Games Development