Thirdverse, the Japanese publisher behind Inxile’s upcoming Frostpoint VR: Proving Grounds just raised $8.5 million in a Series A round of funding.
The round was led by JAFCO with participation from Presence Capital, Sisu Ventures, and Incubate Fund. Thirdverse is also the developer behind dark fantasy melee combat game, Swords of Gargantua. The studio was originally known as Yomuneco but rebranded earlier this year.
Currently the company’s big bet is on Frostpoint, a multiplayer shooter now in open beta. The sci-fi themed game is operating on a ‘Play to Own’ basis, meaning beta players can take part to secure a copy of the full title, too. The game’s available on PC VR headsets via Steam and Oculus platforms, though no word yet on potential PSVR and Quest releases.
Swords of Gargantua, meanwhile, continues to add free updates and is anticipating releasing a PSVR version in the future, though it’s been subject to delays. Over the past few years, the game has been ported to Quest and added crucial new features.
In a prepared statement, co-founder Masaru Ohnogi noted that the company would “release more immersive VR games in the future” but there’s nothing to announce today.
After a slow few years for the VR industry, investment in and acquisitions of creators is starting to see a rise. In the past month, Shadow Point developer Coatsink and Arizona Sunshine maker Vertigo have both been bought up by other larger companies. It certainly seems like financial interest in VR is growing once more.