Ignite Game Technologies, a San Francisco, CA-based online gaming company that develops a live auto racing game, has raised $7.5m in Series B financing.
The round, which was led by Steve Belotti and Bill Budinger Jr., follows a $3m Series A round raised in 2010.
The company intends to use the capital to launch its online multiplayer auto racing game. According to a written statement, the experience is enhanced by a high-fidelity physics engine and proprietary player skill quantification technology.
Founded in 2008 by CEO Jonathan Haswell, and James Synge, Ignite is planning to announce its product in the fall of 2011.