Paha Schulz, the founder of Playsnak, has a wealth of industry experience spanning from Crytek to Electronic Arts. Taking that and the talents of well-seasoned industry vets, Schulz created a new venture with Playsnak, a company focused on mobile and VR game development and publishing. Playsnak announced via press release they’ve received a $1.3 million seed investment from K Cube Venturesl, a firm that has allocated $100 million in assets from 2012 until now.
“We expect that Playsnak will lead the game market with their in-house competency to develop innovative VR content and diverse global business competency in the evolving next-generation game market, said Andy Shin, Partner at K Cube Ventures who led this deal, in a prepared statement.
K Cube invests anywhere from $100,000 to $2 million per start-up, depending on the partnership. With the $1.3 million investment, it’s clear they believe in Playsnak’s mission and potential to produce and/or publish quality mobile and VR experiences. Playsnak hopes to extend into augmented reality down the line and K Cube’s experience with business development, team building, networking, investing, and other crucial business elements might pay dividends for the young startup. In the press release, Schulz was candid about where the allocated funds would go and the company’s far-reaching goal.
“Through this funding Playsnak will focus on developing and finding innovative VR & mobile games, as well as focusing on bringing the Asian and Western game market closer together and becoming a true global player in the game industry.”