110 Industries raises $20m in Series A funding led by Norma Investment to develop video games
The funding round was led by Norma Investment and will finance the development of the studio's debut game.
UK gaming company 110 Industries operates as a production centre, designing concepts and scripts before commissioning third party studios to build premium titles. The company focuses on single player games for consoles and streaming services.
British gaming production company 110 Industries has secured $20m in a Series A funding round led by Norma Investment, with participation from GEM Capital and Sergey Kornykhin. The capital will primarily support the development of the company's debut title, Wanted: dead, which is scheduled for release in 2022.
The transaction represents the first foray into the video game sector for billionaire Roman Abramovich, whose investment vehicle Norma Investment backed the round. Co-investor GEM Capital brings prior gaming portfolio experience, having previously backed titles such as Atomic Heart and Pathfinder: Wrath of the Righteous.
Founded in 2017 by Anton Poletaev and Sergey Kolobashkin, 110 Industries functions as a central production hub rather than an internal development studio. The firm creates underlying scripts and character concepts before outsourcing production to external studios, with plans to collaborate with prominent foreign developers on premium console and streaming games.
Use of funds
- 01Continue product development
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About the company
110 Industries
110 Industries produces video game concepts and scripts for external development studios.