Tuesday 29 October 2024
Outlier Games Limited, an Irish video game development studio, has announced the completion of a €583,000 pre-seed funding round. The raise was led by several local and international angel investors as well as Enterprise Ireland’s High Potential Start-Up (HPSU) unit.
Completed across two stages in 2024, the funds will be used towards development of the recently announced simulation title ‘Mars Attracts’, as well as expanding the team across Dublin and Belfast for several unannounced projects.
'Integral part of the wider game development landscape in Ireland'
“We’re thrilled to continue the fantastic momentum at Outlier, and become an integral part of the wider game development landscape in Ireland. Each of our products has launched the company to new heights, and with this funding round we’re set up well for the next stage of growth,” said Paul Froggatt, creative director at Outlier.
One of the investors, Pontus Mahler, co-founder of Agora Gaming Partners, said: “I was immediately drawn to the vision behind Outlier Games. Their strategic approach to game development aligns perfectly with what it takes to succeed in today’s market. As an angel investor, I’m excited to support the team and witness the continued progress of Mars Attracts, along with the exciting future titles to come.”
He was joined by several other angel investors, including through Ireland’s Halo Business Angel Network (HBAN). Of the funding round, Mark Farrelly, associate director, HBAN, said: “Outlier Games showcased a clear vision, attractive business model, and strong market potential.
"One of HBAN's key roles is to curate quality deal flow for our investors, so when we saw the team’s strong domain knowledge, we knew it would stand out to our network. Unsurprisingly, the round quickly became oversubscribed.”
Outlier is also part of Enterprise Ireland’s HPSU portfolio and EI has joined external investors in the round.
Donnchadh Cullinan, ICT HPSU manager, Enterprise Ireland, said: “Outlier Games is an innovative, ambitious company that Enterprise Ireland is proud to support.
"Outlier is creating a world class gaming development studio, using the latest advancements in digital technology to bring their product offering to the next level and has a clear growth path for the coming years. This growth will support the creation of high-quality, rewarding careers and Enterprise Ireland looks forward to working with Outlier Games on this journey.”
Outlier is proud to be one of the growing number of Irish gaming studios, highlighting the success of Ireland’s new Digital Games Tax Relief. Colm Larkin, CEO of Imirt: The Irish Game Makers Association, said: “It is fantastic to see the games tax relief making Irish game studios like Outlier Games an even more attractive target for international investors.”