Velan Studios, a Troy, N.Y.-based innovative gaming studio, completed a $7m Series A financing.
The round was led by Velan Ventures with participation from additional investment partners. As part of the investment round, Charles Huang, Co-Founder of Red Octane, co-creator of Guitar Hero, and current CEO of Indigo 7, an entertainment investment company, joined Velan Studios’ Board of Directors.
The company intends to use the funds to continue to focus on building new entertainment experiences around emergent technologies including building out veteran prototyping teams and developing innovative new products across both existing and new platforms.
Founded in November 2016 by Guha Bala, President, and Karthik Bala, CEO, Velan Studios aims to create experimental game experiences across existing and emerging platforms focusing its research on AI enabled augmented reality, robotics, and novel integration of hardware and software. Additionally, the company will develop new play patterns on existing gaming platforms.