Finland’s mobile game studio Cosmic Lounge raises €4M in a seed round
The Helsinki-headquarted mobile puzzle game startup Cosmic Lounge has raised €4 million in a seed funding round led by Transcend. The fresh investment will allow Cosmic Lounge to continue the expansion of its team and launching the first game.
- Cosmic Lounge was founded in 2022 by six former King, Seriously, and Next Games developers after Seriously was shut down by parent company Playtika. Cosmic Lounge creates puzzle games using AI-enhanced technology. The startup claims that it will help to test playable prototypes for product-market fit and marketability earlier on in the production process.
- The round was led by Transcend, an early stage venture capital firm investing in the future of games and digital entertainment. In its portfolio there are such companies including Crop Circle Games, Gardens, Methodical Games, Possibility Space, Polygon, Singularity 6, Ruckus, Roboto Games, Laguna Games.
- To date, the previous pre-seed financing Cosmic Lounge received from Finnish VC firm Sisu Game Ventures. In February 2023, it сo-led €4.7 million round for Unagi, French Web3 games developer.
“We are profoundly impressed with Cosmic Lounge’s vision to fuse their deep puzzle game domain expertise with a proprietary AI-enhanced game engine. We’re confident they have the tools to power original game design and content creation with rapid iteration, and that they will produce the next blockbuster puzzle game franchise,”said Brett Krause, Managing Director of Transcend.
- Cosmic Lounge will use the new investment to build its team, release new game mechanics for live ops, mini-games, and to support its performance marketing efforts.