Obelisk Studio has secured £1.6 million GBP ($2 million USD) from The Games Fund, a specialist early-stage venture capital fund with a focus on video games.
The developer will use the funding to continue its pivot away from co-development into the development of independent first-party titles, starting with its upcoming psychological action-horror game Displacement. As a part of the move, the studio also plans to expand its team and take on more developers and designers.
In the past decade, Obelisk Studio has worked on games like Sons of the Forest, Call of Duty, Fallout 76 and other titles. They also worked on the David Fincher directed episode of the Netflix comedy, horror, science fiction, and fantasy anthology show Love, Death & Robots, “Bad Travelling”.
“We’re so happy to see the excitement that ‘Displacement’ sparks in people when we recruit and tell them about the game we work on!” said Artem Dorokhin, co-founder and CEO of Obelisk Studio. “They see the potential even at this early stage and share our vision that the market and players are waiting for a true hardcore horror game. The Games Fund has placed a lot of trust and support in Obelisk. Thanks to their resources and extensive connections in the industry, we’ve built all the critical infrastructure, made key hires, and kickstarted the company in record time.”
“While humour and drama may be culturally specific, fear is universally understood, tapping into our most primal instincts as human beings,” added Alexander Vershinin, co-founder and creative producer of Obelisk Studio. “The action-horror genre, once considered niche, has grown to the point where it can hardly be classified as niche anymore. In collaboration with specialists in the psychology of extreme survival, we are making the ‘Displacement’ the most authentic psychological horror experience possible, full of raw emotions and literally driving players crazy.”
“We believe that a well-crafted AA game, one that honours and builds upon the legacy of classic horror titles with soul and grit, is a clear opportunity,” said Ilya Eremeev, co-founder and managing partner of The Games Fund.
“With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game. We are committed to continuing our support and investment in the growing gaming industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark.”
The Games Fund has raised around £39 million ($50 million USD) for its first round of investments, and has also awarded funds to other studios across central and eastern Europe, including KEK Entertainment, Jarvi Games, and Red Rover Interactive. If you’d like to learn more about the fund, you can do that here.