Qloud Games Secures $5 Million in Seed Funding

Australian game development studio Qloud Games has successfully raised $5 million in its latest seed funding round, led by prominent investors Bitkraft Ventures and GFR Fund. The funds will be utilized to drive the development of the studio's forthcoming MMO title, Loftia. Notable investors, including Andreessen Horowitz and 1Up Fund, also participated in the funding round, demonstrating significant support for the project. Qloud Games' co-founders, Michael Su and Martina Qin, have invested $500,000 of their own capital, in addition to securing $1.3 million through a Kickstarter campaign in 2024, which garnered over 16,700 backers. According to CEO Michael Su, "Loftia represents a visionary world where collaboration and unity prevail, and we are grateful for the backing of our investors and Kickstarter supporters, which will enable us to bring this ambitious project to fruition." Jasper Brand, partner at Bitkraft Ventures, expressed his enthusiasm for the project, stating, "The Qloud Games team has demonstrated unwavering dedication to Loftia, investing substantial personal capital, achieving a record-breaking Kickstarter campaign, and cultivating a sizable community of 600,000 enthusiasts prior to the game's launch. With a successful Alpha phase completed and sufficient funding to support the game's launch, the studio is poised to introduce innovative live service, cross-platform, and social features to the next generation of gamers, while establishing itself as a world-class game development studio with a global presence." Founded in 2022 by Michael Su, Martina Qin, and Eric Mallon, Qloud Games' team comprises 30 experienced developers from renowned indie and AAA game studios worldwide.