Omeda Studios' second round of budget has concluded. Following March 2021's $2.2 million seed round, current investors led the $20 million round.
Omeda Anticipates New $20 Million Haveli Investments-led Funding
The second round of fundraising for Omeda Studios, a London-based company, has ended. The $20 million round, headed by venture capital firm Haveli Investments and included present investors, was funded by current investors. This fundraising round comes after a $2.2 million seed round that took place back in March 2021.
The fledgling studio is now working on Predecessor, a third-person action MOBA. A Paragon influencer and live stream, Robbie Singh is the co-founder and CEO of Omeda. Epic chose to make the art assets available to the community for free when it closed Paragon in 2018. Singh decided to take action after feeling empowered by the Paragon community.
With the help of its community, Omeda spent the last year defining what a MOBA looks like in the modern-day. They have been able to iterate quickly because of their intimate ties to the community, and Singh predicts that when people play the game in Early Access, they'll be overjoyed.
Chasing the success of their previous playtests, they chose to increase their Series A in order to speed up development; nevertheless, we weren't only after cash. Finding a partner who believed in the power of community and shared their vision for how they wanted to produce games was essential to them, the CEO added.
After its Revocation, Paragon's New Developer made it Rise From the Ashes in 2021 | Here's How
Riot Games' League of Legends and Epic's Paragon were both attempts by Epic to enter the MOBA industry. However, it could never entice players away from that game, and Paragon was eclipsed by the immense popularity of Epic's Fortnite battle royale mode. January 2018 saw Epic terminate it.
Robbie Singh was among many who were heartbroken by the cancellation of Paragon. In July 2018, Epic chose to open up the Paragon assets to other developers after closing the game.
Singh decided to organize his community and create a team to continue Epic's story. Singh founded the business in January 2020 with Steven Meilleur and Andrea Garella. The Predecessor was started by the newly formed Omeda Studios, whose name is 'a demo' reversed.
Twelve individuals make up the team, awarded an Epic Games Megagrant to work on the game. It has conducted an alpha test and anticipates releasing both a polished game and an early access version this year.
The business introduced a new hero who can fly and scale obstacles to a detailed map for multiplayer gaming.
Inventure, Progression Fund, 1Up Ventures, Aream & Co., and Ride Ventures lead the funding round with gaming angel investors Chris Lee, Jas Purewal, and Rupert Loman. The developer has 100,000 signups and 35,000 Discord members. At the same time, they will utilize the money to hire senior gameplay programmers, Unreal Engine programmers, lead VFX artists, and technical artists. The group has 12 players, several from Paragon.
The assets of Paragon also received an investment from Epic of over $20 million, which Omeda may greatly benefit from. Of course, other people are also using those resources, such as the Metabuff team, which is working on a game called Core. However, according to Singh, only his business has successfully secured a significant amount of venture capital for a project.
