Co-founder Kongregate's new mobile studio has attracted $2.5 million in investment
Startup Double Loop Games has raised $2.5 million to create mobile games. Its co—founder is the former CEO of Kongregate, Emily Greer.
Shelby Moledina and Emily Greer
Greer founded the publisher Kongregate 13 years ago. In 2013, the company opened a mobile division. She also acquired several studios. After working with them, Greer decided to start developing games directly.
Together with Greer, Double Loop is headed by Shelby Moledina. She was a product director at WB Games and an executive producer at DeNA. Unlike Greer, Moledina is an experienced developer and game designer.
In addition to them, there are “a couple of employees” in the startup team, VentureBeat reports, but the main staff has yet to be hired. Most recently, Double Loop got a technical director.
The idea of Double Loop Games is to create mobile games for a wide audience. The mobile gaming market is mostly represented by players who do not consider themselves gamers, Greer noted. According to the publication, such players — 70% of 2.5 billion.
For them, Double Loop plans to create casual titles with an emphasis on social functions. The startup’s management is not talking about future projects in more detail yet.
The main seed investor of the startup was the London Venture Partners (LVP) fund. He actively invests in game development, including casual and hyper-casual mobile studios. The 1Up Ventures fund also invested an unspecified amount in Double Loop. It was founded by Ed Fries, former vice president of Microsoft Games Publishing.
The funds made the decision to finance the new studio after familiarizing themselves with the strategy of Greer and Moledina. “We like the mission that Double Loop has taken on: eliminating the deep disconnect between the design of casual mobile games and the users themselves,” LVP said.
Also on the topic:
