nWay, a San Francisco gaming startup made up of experienced massively multiplayer online (MMO) game makers, has raised USD5 million in funding. The round was led by TransLink Capital, according to TechCrunch.
Baseline Ventures' Steven Anderson, Harrison Metal's Michael Dearing, and Cowboy Ventures' Aileen Lee also participated in the said round. Other investors include XG Ventures, Lightspeed Venture Partners' Jeremy Liew, Zhen Fund, Wl Harper Group, and Bowana, the report detailed.
nWay's main title ChronoBlade involves a group of hero characters fighting to protect a universe where multiple Earth versions exists. At present, the game is available on Facebook and Android-based console Ouya. But the company plans to have the game work smoothly across several platforms including PCs, mobile devices, and consoles. Android and iOs versions should be coming next year, the report said.
The company has been able to attract investment amid a tough environment for gaming startups because it has developed an engine that allows a 60-frame-per-second game play, the report stated.
The gaming startup has not yet turned on monetization features as it is still focused more on retention rather than revenue. The two-year-old firm has raked in a total of USD11 million in funding to date. nWay currently employs 34 workers, TechCrunch reported.
Join the Conversation