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.
Discover the world’s most interesting business headlines with the mobile app Born2Invest. The app provides its readers access to the latest news in global business, stock market, finance news, and also trending topics like bitcoin, cryptocurrency, and biotech.
Born2Invest brings you the latest, breaking news from a trusted global network. The app gives access to the news in global finance news, crowdfunding, and Africa.
“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.’
“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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Wyborcza, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
ClubDealOnline Closes an Agreement with Prometeia
ClubDealOnline has signed an agreement to make the companies selected for its ESG-friendly campaigns with Prometeia, one of the leading...
Public Investments: New Avenues for Improvement Validated in Morocco
The modalities that have prevailed, since 2015, in terms of the orientation of public investments in Morocco, will have to...
Increase in Airport Opportunities Mirrors Rebounding Passenger Travel
The conference focused on collaborative efforts by public owners, private sector investors, and contractors. Experts were on hand to discuss...
BlackRock Launches First Liquid ESG Equity Alternative Fund in Europe
The Systematic ESG Equity Absolute Return Fund (SEEAR) launched by BlackRock is designed for Liquid Alternatives investors seeking a global...
El Cesar has the Conditions to Enter the Medical Cannabis Market in Colombia
Municipalities such as San Alberto, San Martin, Gonzalez, among others, have the conditions to grow medical cannabis, a bet of...