Mighty Bear Games, a Singapore-based multi-platform game development studio, raised $10M in funding.
The round was led by Framework Ventures with participation from Mirana, Sfermion, Dune Ventures, Sanctor Capital, Folius Ventures, Polygon, Play Future Fund, Everblue, Ancient8, Ready Player DAO, Razer, Avocado DAO, and DWeb3.
The company intends to use the funds to accelerate growth and expand operations.
Led by CEO Simon Davis, Mighty Bear Games is a studio building the next generation of mobile-first, multi-platform games. The raise follows a period of growth for the studio, which has rapidly established itself as a partner of choice for the world’s leading IPs and platform owners, with immersive, multi-platform games such as Butter Royale and Disney Melee Mania under its belt. Alongside the funding, Mighty Bear Games is announcing its first web3 game slated for release later this year, Mighty Action Heroes, a multiplayer third-person Battle Royale that puts an emphasis on fun, skill, and chaos. Mighty Action Heroes will be powered by Polygon, the carbon-neutral Ethereum scaling solution designed to improve Ethereum functionality and promote infrastructure development. Mighty Bear Games will also receive support from Polygon Studios in the form of funding, marketing, technical advice, strategy and ecosystem support.
Ahead of the launch, the studio will release an NFT PFP collection and engage the community this summer, with each NFT offering immense utility within the game and beyond. Each PFP holder will gain early access to the game during the Early Access Preview and be able to give feedback and stay involved throughout development. PFP holders will also be able to collect in-game rewards and cosmetic items when the game releases in late 2022.