Finland-based mobile game developer Koukoi Games has announced today that it has entered a new investment partnership with media focused venture capital fund IPR.VC and Tekes: the Finnish Funding Agency for Innovation. Contributions from the two bring investments for Koukoi to over $1 million. Koukoi says that it will use the money to focus on unspecified intellectual property-based mobile gaming.
The mobile industry is worth $36 billion, but it’s filled with competition. Basing a game on a strong IP can give it a better chance at finding an audience.
Finland has a strong market for mobile gaming, with research firm Newzoo predicting it will earn $216,162,000 in revenues in 2016. That’s despite its relatively small population of 5.5 million. Many of the biggest developers in mobile, including Clash of Clans creator Supercell and Angry Birds mastermind Rovio, are based in Finland.
“Through this funding Koukoi’s chances to create the next mobile game success story are further improved,” said Koukoi Games chief executive officer Antti Kananen in a press release sent to GamesBeat. “This move also makes it possible for Koukoi to begin producing high quality mobile games in the IP market alongside our own original productions. We are now able to work and collaborate with for example world famous movie studios and brands which in turn greatly raises the potential for major success.”
Koukoi’s first licensed game is based on an upcoming Hollywood movie, although it did not specify which film. The developer said that it will reveal details “soon.” Koukoi started in 2015. It released its first game, Crashing Season, in May.