Qloud Games has successfully secured $5 million during its seed funding round

The gaming company Qloud Games, based in Sydney, has successfully raised $5 million through a seed funding round. The round was primarily supported by Bitkraft Ventures alongside GFR Fund.

The financing aims to propel the development of their Massively Multiplayer Online game (MMO), Loftia. This financing saw participation from Andreessen Horowitz of A16Z, as well as contributions from 1Up Fund and Gaingels.

Qloud Games was co-founded in 2022 by Michael Su, Martina Qin, and Eric Mallon. Both Michael Su and Martina Qin have personally invested $500,000 in the company. Additionally, the studio secured $1.3 million on Kickstarter in 2024, backed by over 16,700 supporters.

Expressing enthusiasm about the project, CEO Michael Su stated, "With Loftia, we're creating the kind of world we wish existed – one where people work together to create a brighter future." He acknowledged the support from Bitkraft, GFR Fund, A16Z, and Kickstarter supporters in bringing the game to fruition.

Jasper Brand, a partner at Bitkraft Ventures, remarked on the dedication of Michael and Martina, noting their significant personal and financial investment. He pointed out their success in mobilizing a large community and highlighted their previous Alpha stage as a success. Brand emphasized their unique distribution strategy in the cozy game genre and their potential to introduce new features like live service, cross-platform, and social interactions to a diverse audience.

The team's experience is diverse, with 30 developers on board from both indie and AAA game companies worldwide, striving to build a recognized studio in Australia with global outreach.