Lightbulb Crew Announces Completion of Financing Round with Knutsson Holdings AB and Additional Investors at Launch of Competitive PC and Playstation 4 Videogame Games of Glory
April 27, 2017 – The Swedish/French video game company Lightbulb Crew has completed a round of financing of approx. SEK 16 million (~1.7 MEUR, ~1,8MUSD). The investment brings Lightbulb Crew’s total equity funding since inception to approx. SEK 43 million (~4.5 MEUR, ~4,8MUSD). The proceeds from the new funding will primarily be used for the launch of the new video game title Games of Glory which has been launched into Open Beta on April 25, 2017 on PlayStation 4 and PC. Swedish private equity company Knutsson Holdings AB is among the new investors.
Lightbulb Crew was founded in 2013 by Anders Larsson a serial entrepreneur and Johan Wirde, a senior game developer from DICE and EA. On top of being a work of passion, Lightbulb Crew was created to bring innovative games to PC and video game consoles and is today an experienced game developer with staff in Paris and Stockholm.
Lightbulb Crew has released its first game, Games of Glory, a team based shooter arena game, into Open Beta on April 25, 2017. The game combines the features of a Multiplayer Online Battle Arena game (MOBA) and shooter games, resulting in a top-down team shooter experience. Games of Glory is a free-to-play game with in-game purchases and unique features like cross-platform competitive play and robust Clubs feature on PC (Steam) and PlayStation 4.
“This financing allows us to release Games of Glory, one of the first games bringing competitive cross-platform play between PC and PlayStation 4 gamers, with the right marketing support” said Anders Larsson, CEO and Co-founder of Lightbulb Crew “We are excited to bring the intense competitive gameplay of Games of Glory’s to both PC and PlayStation 4 and are looking forward to continuing to build and expand on the experience in years to come.”
With the new funding, Lightbulb Crew has secured a strong launch of Games of Glory. The proceeds will primarily be used for a flexible and reactive approach in launch marketing and post launch activities. The investment was completed by existing and new investors, among them a selected group of high networth individuals and Knutsson Holdings AB, a family owned private equity company.
Arctic Securities acted as financial advisor in connection with the private placement.
Knutsson Holdings AB
Michael Knutsson, CEO