Frost Giant founded by StarCraft 2 and WarCraft 3 veterans raised $25 million in a Series A funding round. The funding will go towards creating a new real-time strategy game in Unreal Engine 5.
Frost Giant co-founders Tim Morten and Tim Campbell
An independent game developer Frost Giant Studios formed by ex-Blizzard staff announced it has raised $25 million in a Series A funding round. The funding will go towards expanding the company's headquarters, recruiting additional staff, purchasing tech upgrades, and creating a new real-time strategy game in Unreal Engine 5.
Frost Giant was founded in 2020 by production director on StarCraft 2 Tim Morten and lead campaign designer on WarCraft 3: The Frozen Throne Tim Campbell. According to Morten and Campbell, Frost Giant's goal was to create an "epic" real-time strategy game.
In an interview with IGN, Tim Morten explained how the funding will be used in developing their first real-time strategy game:
"This funding gives us the runway we need to ship the game we've envisioned. As you know, creative vision isn’t always a straight line, so the ideas we have today may morph based on what we feel would make for the best player experience. For us, this funding is a testament that the appetite for RTS remains strong in the global gaming community, and we are encouraged to have leading companies like Kakao Games believe in what we’re building and supporting our journey."
The round was led by Kakao Games, a Korean game publisher, which made up a major part of the investment – $20 million of the $25 million raised. Along with Kakao Games, such investors as Bitkraft Ventures, Global Founders Capital, Riot Games, Gaingels, and Mantis Venture Capital took part in the round. In total, Frost Giant has raised $34.7 million for this debut project, which is expected to be formally announced later this year.
Kakao Games CEO Kyehyun Cho commented:
"The team at Frost Giant Studio have already proven they have strong development capabilities, creating beloved RTS hits in the global market in the past. We look forward to seeing them present their first game as a studio and will actively work together to showcase good work through our close partnership."