Moon Beast Productions recently announced that they’ve raised $4.5 million in seed funding to fuel their innovative projects. Leading the funding round was 1AM Gaming, with significant contributions from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and several angel investors joining hands.
The studio plans to channel these funds into crafting an action RPG that aims to break the mold of traditional gaming design. Founded in March 2022 by Peter Hu and Phil Shenk, two seasoned veterans from the Diablo 2 team, Moon Beast has quickly made a name for itself. The team became even stronger when Diablo 2 co-creator Erich Schaefer joined as chief creative officer the following year.
“Considering the tough funding climate these days, having investors who truly grasp our vision feels like a blessing,” said Hu, who is also the president and co-founder. “Our strategy is all about being efficient; we’re developing systems that are both reusable and data-driven, allowing us to innovate quickly and achieve more with fewer resources.”
Shenk added his insights, stating, “Following the crowd has never been our style. Throughout our careers, we’ve continually strived to push genre boundaries. From the pioneering days of Diablo and Diablo 2 to ventures like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve always aimed to elevate player expectations in the ARPG space.”
