Cyprus-based Eschatology Entertainment has raised $11.3 million in Series A funding to finish its upcoming Souls-like FPS set in a post-apocalyptic Wild West. South Korean developer and publisher Krafton led the round, with both GEM Capital and The Games Fund returning to participate.
Currently, the studio has completed pre-production and a showcase vertical slice of its first title, Eschatology's (growing) team of 65 developers in 8 countries is working on the game's launch, but has not yet set a release date.
“With the support of our new partner, Krafton, and the continued teamwork with long-time friends GEM Capital and The Games Fund, we now have all the resources needed to bring our ambitious vision to life. It’s not just an opportunity to finalize a unique, strong product. It’s important for us to tell this incredible story through multiple games, starting with an alternate apocalyptic Wild West setting,” said Fuad Kuliev, CEO, Creative Director and Co-Founder of Eschatology Entertainment.
In 2022, Dmytro Kostiukevych, Boris Nikolaev, Viktor Antonov, and Kuliev founded Eschatology Entertainment. The leadership team all previously worked at Wargaming, the studio behind World of Tanks, except for Antonov who served as visual director on Half-Life 2 and Dishonored.
Join GamesBeat Next!
GamesBeat Next is bringing together the next generation of video game leaders. And you can join us on October 28th and 29th in San Francisco! Take advantage of our buy-one-get-one-free pass offer. The sale ends on Friday, August 16th. Sign up by signing up here.
The Way Forward of Eschatology
Eschatology is the latest studio in Krafton's investment portfolio. Since 2022, the South Korean publisher and developer has invested in or acquired 27 other studios — including 11 in 2024. Krafton recently acquired the developer of Hi-Fi Rush Tango game works.
“Eschatology Entertainment has an exciting future ahead of it and we are thrilled to support the team and their innovative ideas,” said Maria Park, VP and Head of Corporate Development at Krafton. “This is at the heart of what Krafton’s ‘Scale-Up-the Creative’ strategy is all about: finding the best talent in gaming and working with them to bring their creativity to the world.”
The South Korean publisher currently serves as a strategic partner. Eschatology announced plans to use this funding to establish an internal publishing team.
The studio has previously $4 million seed round in November 2022 to fund initial development and hiring. GEM Capital and The Games Fund co-led the round, with each contributing half of the total capital. To show their commitment to the project, both investors have returned for this new Krafton-led funding round. GEM Capital has even increased its ownership stake in Eschatology Entertainment through this raise.