Cauldron secures £1m pre-seed funding led by Seedcamp to develop Web3 gaming projects.
Seedcamp led the oversubscribed round alongside existing investors IQ Capital and Playfair Capital.
Cauldron is a gaming studio that develops immersive science fiction projects within the Web3 gaming sector. The company was spun out from Thought Machine.
Cauldron has secured £1m in a pre-seed investment round led by Seedcamp. The round also saw participation from existing backers IQ Capital and Playfair Capital. The capital will support the studio as it debuts its sci-fi project focused on Web3 gaming.
Formed as a spin-out from fintech unicorn Thought Machine, the studio is led by chief executive Mark Warrick alongside founders Fox Rogers and Matt Hyde. The team plans to build worldbuilding-first experiences tailored for players seeking ownership within virtual universes.
From the founder
"Our studio has naturally wanted to transition over the years into being worldbuilding-led so it could not be better timing seeing a new audience emerge that is looking for immersive game-like experiences where they own parts of the universes they love. At Cauldron we have a history of working in markets where we know our art and emotive storytelling can have a dramatic impact and we are seeing the rising base of Web3 players yearning for more."
Fox Rogers
Creative Director at Cauldron
Investor perspective
"At Seedcamp, we backed Sorare early and boldly stated it would become one of the first mass crypto games. We know gaming will be one of the main drivers behind mainstream crypto adoption and are delighted to have found yet another world-class team in Cauldron who have a strong market vision for a Web3 gaming niche that we have not seen to date and we are delighted to be supporting them at the start of their journey."
Sia Houchangnia
Partner, Seedcamp
