Iconic AI raises $4m in pre-seed funding led by HodlCo to accelerate game development
The London-based AAA games studio secured backing from HodlCo, FOV Ventures, and prominent tech executives to expand its team and technology.
≈ £3.1M at $1 = £0.7738 on 11 Jul 2024
An AAA games studio based in London that integrates artificial intelligence into the game development process.
Iconic AI has secured $4m in a pre-seed funding round led by HodlCo. The capital was backed by participants including FOV Ventures, Interface Capital, Deepwater Asset Management, and scout funds from Sequoia and Atomico, alongside senior executives from companies such as DeepMind, OpenAI, and Microsoft.
The studio will use the new funds to grow its core team, strengthen research and development, and accelerate the launch of its debut game. The founders established the company to build an artificial intelligence-first studio capable of reducing development costs and increasing creative output with smaller teams.
The oversubscribed round highlights growing investor interest in artificial intelligence applications within the entertainment sector. The company aims to challenge perceptions about artificial intelligence in creative industries by enhancing human capability rather than replacing it.
From the founder
"This funding will enable us to prove we can redefine game development, and challenge the misconception that AI is here to replace, rather than enhance, human creativity. Our goal is to push the boundaries of interaction and immersion for our players, while making work more interesting and secure for developers. We believe our approach will create more jobs while elevating each individual on a team to have more impact and influence on the game they are making. Our belief is that by harnessing AI, smaller teams can become as efficient as, if not more efficient than, the largest video game developers, allowing them to create dozens of games. We are excited to continue this journey with the support of our new partners."
John Lusty
Founder and CEO at Iconic AI
Use of funds
- 01Grow the team
- 02Fund research and development
