Resolution Games - the start-up company formed by former King guru Tommy Palm - has secured $7.5 million in additional investment.
This additional funding, courtesy of GP Bullhound and Fly Forever and Unity co-founder David Helgason, brings the studio's total funding to $13.5 million and pushes the VR studio's overall value to $87.5 million. The company plans to use the additional funds to expand its reach and boost its IP portfolio of VR and AR games.
Speaking to PocketGamer.biz, CEO Tommy Palm said: "I definitely think from a game developer point of view one of the big value builders is creating your own IP We've been able to create several games already that have been really well received and that's something we'll continue to do."
While the studio will likely remain focussed on VR projects, Palm acknowledged the importance of AR games whilst also reflecting on integrating "very valuable" social features. "It's not going to be a huge explosion straight away," Palm said about VR, "but from next year, we'll start seeing volumes enough for it to start becoming more and more viable."
Palm's Stockholm-based studio was founded in 2015. Its portfolio includes the games Solitaire Jester, Angry Birds FPS: First Person Slingshot, and the Bait! series.
"One of the most important takeaways from massively popular mobile games like Candy Crush Saga, is that the majority of all gamers span across many demographics and often prefer light-hearted vs hard-core games,” Palm said at the time, cementing his commitment to VR, but warned VR developers against attempting VR on a free-to-play strategy alone.