Start-up Fund invests EUR 100,000 in gaming company Vaki Ltd. to support its growth
Joensuu-based gaming company Vaki Ltd has received an investment of EUR 100,000 from the Start Up Development Joensuu – Investment Fund which operates via a subsidiary of Business Joensuu. The investment will allow the company to focus on the development and global launch of its Kingshunt game in spring 2021.
Vaki Oy operates in the rapidly growing global gaming market under the Vaki Games brand. The new investment will help in the development of the multi-player online action and strategy game, Kingshunt that will serve as the brand’s flagship. The game has already received several international awards: PC Indie Pitch, Devcom People’s Choice, Nvidia Spotlight. and Epic games Unreal Dev Grant. The company will strive to make continuous revenue from the game by creating a strong brand for it so it will interest players enough for them to purchase additional options.
The game is developed by a strong team of experts.
– We now have nine full-time and part-time employees participating in the development of the game. Our vision is to employ 25 persons by next year. From there, we will grow as necessary, says Vaki Ltd. CEO Teemu Jyrkinen.
The Kingshunt game is being developed together with its players. Up until now, the game has been developed with a limited number of players.
– On 28-29 November we will organise a test weekend, in which anyone can take part. We will make an effort to reach as many players as possible over the weekend. The actual launch date of the game will be in spring 2021,” continues Jyrkinen.
The company’s investors include gaming industry angels and companies from the USA and Asia. The company’s investors also include the gaming industry’s long-term experts, who have worked in for example the very successful gaming company Remedy. Other key investors include Finnish companies Tervo Invest and Into Ventures. The company also works in strong collaboration with Business Finland.
The Start Up Development Joensuu – Investment Fund decided to invest in the gaming company because from the perspective of competence, Vaki Ltd. operates in one of the region’s leading sectors, software, and the company has excellent international partners.
– The investment made now is the fourth investment by our fund. We have made diverse investments in different sectors and companies that have genuine opportunities for international success,” says Harri Palviainen, Chief Executive Officer of Business Joensuu Oy.
Palviainen also serves as the Chairman of the Board of Directors of the Start Up Development Joensuu – Investment Fund.
Start Up Development Joensuu – Investment Fund has invested EUR 100,000 in the company, of which EUR 50,000 is conditional and linked to the performance indicators agreed on for the game’s launch.
Photo: Vaki Ltd.
Further information:
Teemu Jyrkinen, CEO, Vaki Games, teemu.jyrkinen@vakigames.com
tel. +358 50 431 7715
Harri Palviainen, Chief Executive Officer, Business Joensuu Oy harri.palviainen@businessjoensuu.fi, tel. +358 500 967 744
Vaki Ltd.
Vaki Ltd, known by its brand name Vaki Games, is a gaming company established in 2016. The company currently employs 9 part-time and full-time employees. The company’s game by the name of Kingshunt (kingshunt.com) is an online multi-player game that will feature action and strategy. The game will be published in spring 2021.
The Start-up Fund Joensuu helps start-up companies to grow, employ people and internationalise. The Fund obtains its capital from the City of Joensuu and private investors. The fund is managed by Joensuun Startup Kehitys Oy, a subsidiary of Business Joensuu. The Fund’s capital is EUR 2.5 million and its typical investment is EUR 50,000 – 200,000. Together with the Business Joensuu’s Business Accelerator and internationalisation services, the Fund supports the domestic and international growth of its target companies. The Fund is an avenue for companies’ second phase funding round. While the Fund is not subject to any field-specific restrictions, its main focus is on companies that specialise in digitalisation, the forest bioeconomy, and materials and innovative technology. Target companies must operate in Joensuu, want to be located in Joensuu or have a connection with the Joensuu region at the level of operative activities.
