Dundee games firm agrees £750k equity deal

EARTHBOUND GAMES: Investment will support development of flagship PC game

Dundee-based game developer Earthbound Games has agreed a £750,000 deal in equity funding to support the development and distribution of its flagship PC game.

Led by CEO Chris Stamp, Earthbound currently has a staff of 14 working on Axiom Soccer from Seabraes.

Premium games are usually developed by a studio working in partnership with a publisher who covers the cost of development, marketing and distribution, controlling the product and profits.

Breaking with convention, the six-figure investment means Earthbound Games will self-publish the game which combines a football game and a third person shooter.

Mr Stamp said: “Development of the game started last February and it was just released in the beta phase on Tuesday. The reaction so far has greatly exceeded our expectations and we will be talking to users about how it can be further developed.

“Aided by the investment we have scaled up rapidly this year and look to have around 20 staff by the time the game launches fully in January.

“Having made published games for more than 30 years, it’s incredibly exciting to be working with such a talented team.”

Mr Stamp said the funds would be used to fund the continue development of the game during the testing phase.

When it launches next year it will be a “mid-priced” game with the option of buying enhancements within the game.

In the game users take control of a drone, which as well as the ability to score goals can also launch projectiles against opponents.

It can be played against virtual opponents, friends and even in front of a crowd watching a live stream.

The equity investment has been led by board director and industry veteran Neil Heywood, who was previously executive chairman and investor of VR audio company Two Big Ears, which was acquired by Facebook in 2016.

Mr Haywood added: “Equity funding and self-publishing isn’t the traditional way to make and distribute high-quality PC games but if you’ve got a great game, there’s an opportunity to create a community, by communicating directly with the players.

“With Axiom Soccer, we’re doing something new with our approach to funding and publishing. That’s meant we could attract support from a number of backers who are already involved with and enthusiastic about the industry.

“We all believe that Axiom Soccer is going to be a great success.”

Top: The Axiom Soccer game being developed by Earthbound Games. Above: Earthbound CEO Chris Stamp.