Emote gets £4m VC investment
Tuesday, 18th September 2007 at 10:01 am
New production company gets cash to drive activity in cross-platform games development
Recently established production company Emote has secured a £4m investment from venture capital firm Electra Quoted Management.
The cash boost will be used to ensure Emote's "organic growth" as it invests in a variety of strategies and projects related to its ambitions behind cross-platform gaming. VC firm Electra has also told Emote that it will make more money available as the company grows.
Emote was founded earlier this year, saying it was hoping to address the challenges of games development via its new production-oriented business strategy. The company is forging strategies with both developers, publishers, and building its own in-house development resource.
Although the projects Emote will be funding and developing are still unannounced, the official statement regarding the investment says tha "the rising popularity in digital publishing platforms such as Home, and the proliferation of connected hardware devices, means opportunities within publishing and distribution have evolved".
"Amid the rapid convergence of entertainment types in a maturing download market, the time is right for the introduction of the production based model, said Morgan O'Rahilly, CEO, we are looking to assist our partners in exploiting their I.P. both operationally and financially. This initial investment from Electra Quoted Management will enable us to deliver our strategy and take advantage of these current market opportunities".
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