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Game developer Drago Entertainment has raised $339 million via crowdfunding

The producer and developer of PC games, Drago Entertainment, raised $339 million (PLN1.3 million) in a crowdfunding campaign. According to Joanna Tynor, the president of the company, the collected funds are to implement key milestones in 2020. The company will also use the investor funds to refine and release its key project FPS/survival, FrostFall. Drago Entertainment is Krakow-based company.

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This picture show a persona playing a video game thanks to a crowdfunding campaign.

Drago Entertainment, a producer and developer of PC games, has completed a crowdfunding campaign, which resulted in the company raising $339 million (PLN1.3 million), including $52 million (PLN 200,000) from an institutional investor, the company said. The money raised will be used for the production of five simulators and the development and release of “FrostFall.” In 2020, the company plans to debut on the NewConnect exchange.

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“On Dec. 5, the second and final stage of the crowdfunding campaign, whose aim was to collect funds for the implementation of key actions planned by us in 2020, ended. Already in the first stage of collection, we exceeded the minimum target and achieved a result of $227 million (PLN0.87 million). In the following days, we reached a total amount of $339 million (PLN1.3 million). This is a huge success for us, which we hope will accelerate the development of Drago Entertainment before the planned debut on NewConnect in 2020,” said President Joanna Tynor.

“In less than two months since the announcement was placed in the Steam store, the title gathered more than 10,000 users who declared their willingness to purchase the game after its release. Already in the first month of its presence on the platform ‘Gas Station Simulator’ was on the ‘Global Top Wishlist.’

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“This is an excellent result, which confirms to us that the interest of the players in our simulator is huge, and the strategy adopted by us to produce this type of game is a hit,” added the studio manager and co-founder of Drago Entertainment, Lucjan Mikociak.

The company will also use the funds raised from investors to refine and release its key project FPS/survival, FrostFall. In 2020, the title will be made available to players in the early access version.

Drago Entertainment was founded in 1998 in Krakow. In 2018, the team was joined by Aleksy Uchański, Maciej Miąsik, Jakub Trzebiński, and Mateusz Wcześniak. It was then that the company decided to adopt a new strategy and focus on the production of its own games.

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(Featured image by Sean Do via Unsplash)

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First published in Wyborcza, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.