$1 million investment for technology and gaming start up 3rd Eye Studios

$1 million investment for technology and gaming start up 3rd Eye Studios
Sean Cleaver

By Sean Cleaver

October 10th 2017 at 12:11PM

The Finland-based studio was started up by industry veterans from Remedy, Unity and others, to make cutting edge tech and games for innovative experinces.

Finnish technology and game developer, 3rd Eye Studios is on the receiving end of a $1 million round of investment, which will allow the company to develop its proprietary technology and create games for new platforms.

The studio is currently working on its 3rd Eye Core toolset, which it uses to develop games in VR for PC and mobile platforms, and it hopes to licence out to developers once testing has finished in 2018. The company has also developed a new IP for VR devices called Downward Spiral, which utilises the technology in creating a zero-gravity space thriller and will also be released in 2018.

"We’ve been blown away by their own IP Downward Spiral and under the helm of CEO Kari Koivistoinen, who has a long history of leading teams to create great IP and CTO Veli-Pekka Kokkonen who will continue to create the incredible technology, we are excited to see the studio's next steps,” said Daiki Nishiyama of investor ColoplNext.

The announcement from the company cites that investors from Finland and as far as China, where the 3rd Eye Core tools are currently being tested have all contributed to the funding round, including former Electronic Arts VP of group strategy, Karl Magnus Troedsson. "It took me less than thirty minutes to decide to invest in the 3rd Eye Studios team,” said Troedsson. “An awesome team with great skills and the right attitude, combined with a solid plan on how to build a games development platform, made this a simple decision."

“The round of investment has allowed the 3rd Eye Studios team to continue our role in bringing the best development tools for multi platform games development, to software developers, hobbyists and players,” said  3rd Eye Studios CEO, Kari Koivistoinen . “At 3rd Eye Studios, part of our mission is to build the next generation of game development tools, with our unique toolset 3rd Eye Core that can be used by both consumers and developers to create awesome new content.”