Nival secures £3.6m for further expansion

Nival secures £3.6m for further expansion
Aaron Lee

By Aaron Lee

December 12th 2013 at 11:40AM

Russian studio with credentials on Heroes of Might and Magic gets a funding boost

Russian developer Nival has raised £3.6 million ($6 million) in a funding round as it steps up its ambitions for further expansion.

Nival is best known for its work on cross-platform titles such as Blitzkrieg, Heroes of Might and Magic V and Silent Storm.

The funding round was led Almaz Capital, which joins Nival’s previous investors that include 1C, a major Russian software distributor and Mail.ru Group, one of the largest communications companies in Russia.

Sergey Orlovskiy, CEO and founder of Nival, holds the majority stake in Nival.

"At Nival we've created a critically acclaimed development studio with more than 200 international press awards," he said.

"Almaz Capital is an investment firm that has also won many prestigious awards including Alexander Galitsky winning the Russian Venture Oscars and the Best Russian Entrepreneur in 2013. Our partnership is a clear fit between two award-winning companies with proven strategies for success."

Founded in 1996, Navel now has 200 employees spread across four development studios, in Russia, Florida, Ukraine and Belarus.