Obelisk Studio has successfully secured $2 million in funding from The Games Fund, marking a significant milestone for the Cyprus-based gaming company.
This substantial financial backing is earmarked for the development of Obelisk Studio’s inaugural intellectual property (IP), an enthralling psychological action-horror game titled “Displacement.”
Prior to this venture into proprietary IP, Obelisk Studio had primarily focused on co-development, making notable contributions to renowned titles such as Sons of Forest, Call of Duty, Fallout 76, and New World.
The infusion of funds from The Games Fund is poised to propel Obelisk Studio into a new phase of creative exploration and innovation.
Expressing gratitude for the support received, Artem Dorokhin, co-founder and CEO of Obelisk Studio, remarked, “The Games Fund has placed a lot of trust and support in Obelisk.
Thanks to their resources and extensive connections in the industry, we’ve built all the critical infrastructure, made key hires, and kickstarted the company in record time.”
Ilya Eremeev, co-founder and managing partner at The Games Fund, emphasized the confidence they have in Obelisk Studio, stating, “With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game.
We are committed to continuing our support and investment in the growing game industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark.”
In a broader context, The Games Fund’s commitment to the gaming industry extends beyond this specific investment. In 2021, the fund launched a $50 million early-stage investment fund with the aim of supporting video game companies in Europe and the United States.
This strategic initiative underscores their dedication to fostering growth and innovation within the dynamic landscape of the gaming industry.
