The indie revival in the video game industry continues to gather steam as Loose Cannon Studios announced it has launched a new game development company focused on original console games.

While 60 game studios have laid off 8,450 people since July (according to Wanda Meloni of M2 Research), it’s interesting to see a brand-new company come out of stealth.

The company is waiting until E3 to announce its first games, but it has interesting founders. Dev Madan, creative director and co-founder, worked as a freelance artist for Marvel, DC and Dark Horse Comics. He also helped launch Sucker Punch Productions, maker of the Sly Cooper series of games.

Matthew Scott is technical director and co-founder. He has worked in the game industry for 10 years, working on games such as Fear and Condemned at Monolith Productions. And Ricci Rukavina is president and co-founder. He worked on Steven Spielberg’s E.T. movie and other films and then shifted his attention to games with Spyro the Dragon, The Thing, and Scarface.

The company was founded in November, 2005, and has 30 employees working on games for the Wii, Xbox 360 and PlayStation 3. So this isn’t a tiny effort by any means. It is self funded.