Singapore-based mobile games studio Mighty Bear Games has closed an undisclosed seven-figure seed funding led by US-based gaming investors including Skycatcher, Everblue and M Ventures.

In a statement, Mighty Bear claimed the seed round is one of the largest in Southeast Asia.

“Typically, seed rounds in Southeast Asia are around $1 million mark, and there’s been maybe a couple at the $5 million range. We’re closer to the second range than the first,” CEO Simon Davis told DEALSTREETASIA in an email interaction.

The startup previously raised a $775,000 pre-seed funding led by Global Founders Capital, the venture arm of Rocket Internet last July. It is also backed by Atlas Ventures and Israeli angel investor Lev Leviev, co-founder of Russian social network VK.com.

“Having world-class investors in games and technology from the US, Europe, and Asia is immense. The diversity of expertise will be a great asset especially as we prepare to launch our first game this month and scale globally in the months ahead.

“Over the past year, we have developed and taken our first game to test launch, developed a proprietary back-end platform – built to power all of our future games, and the team has grown which by end-August we will be at 18 people. Second game is in pre-production. The idea is to have up to three titles on the go by end of this year,” said Davis.

The capital raised will be used to boost Mighty Bear talent pipeline as well as to launch its first batch of games. It is currently testing its first game in the Philippines and India ahead of a full global launch on iOS and Android later this year.

“We’ve been eager to find the right way into the Asian mobile games market, and Mighty Bear gives us an opportunity to enter the space with confidence. We’re excited to back the team, alongside other investment leaders,” said Everblue president Kerrie Juras.

Mighty Bear was founded in 2016, where the founding team comprises alumni of game publishers from King, Ubisoft, EA, Lucasarts, Disney, Bigpoint, Gameloft and Jagex.

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