Moon Beast Productions has just announced a significant milestone: they’ve secured $4.5 million in seed funding. This funding round was spearheaded by 1AM Gaming, with notable contributors including 1UP Ventures, The Mini Fund, Overwolf, and Versus Ventures. A number of angel investors also joined in, giving the studio a robust financial backing.
The company plans to channel these funds into creating an action RPG that promises to break away from traditional design norms. Moon Beast, founded in March 2022 by former Diablo 2 team veterans Peter Hu and Phil Shenk, recently welcomed Diablo 2 co-creator Erich Schaefer as chief creative officer a year later.
Reflecting on their achievement, president and co-founder Peter Hu expressed gratitude in navigating today’s tough funding climate. “We’re truly lucky to have investors who grasp our vision,” Hu mentioned. He emphasized their strategic approach, stating, “Our focus has always been on smart work, leveraging reusable, data-driven systems that allow rapid iterations, enabling us to do more with less.”
Phil Shenk chimed in, stating, “We’ve never settled with the status quo. Throughout our careers, we’ve strived to redefine genres. From the early days with Diablo and Diablo 2 to our work on Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve constantly pushed boundaries to expand what players anticipate in this genre.”
