Russian MMO Games Maker Nival Gets $5 Million Funding For New Title
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Combining two of the digital investment world’s sweet spots—Russia and social games—Russian online games developer Nival is close to securing $5 million (£3 million) in funding from unnamed investors, according to founder and CEO Sergey Orlovskiy speaking to Russia paper Vedomosti (via Quintura).
The funds will go towards developing new massively multiplayer strategy-based game Prime World, which will have social networking elements and from next year will be available via Nival’s gaming portal Zzima.com. The company has many MMO-style games, some free and some subscription based, and it employs more than 300 staff in Moscow and Florida. Russian software giant 1C owns a 30 percent stake in the company.
Figures from iKS-Consulting (via Yakov) show that the Russian online games market will grow 29 percent in 2009 to $238 million (£143 million), the bulk of which is made up by MMO game payments.
Posted In: Entertainment, Games, Money, M&A & Venture Capital, Venture Capital, Countries, Europe, Russia
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