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Power Rangers Legacy Wars dev nWay receives $11m investment

March Capital Partners and Ridge Ventures pour new funds into mobile studio

San Francisco-based developer nWay has secured a $11 million in funding from two venture capital firms, as well as established investors.

The investment round was led by March Capital Partners and Ridge Ventures, along with Baseline Ventures, TransLink Capital and WI Harper Group.

nWay is best known for mobile multiplayer brawler Power Rangers: Legacy Wars, based on the long-running series by Saban Brands and this year's movie reboot from Lionsgate.

While Lionsgate did not contribute funds directly, it did assist with bringing in nWay's newest investors. It already works with Ridge Ventures to help fund other game developers, such as Telltale Games and Next Games, to give them access to the movie production firm's properties.

nWay has said the $11 million will be used to support new game development and continue the ongoing work on Power Rangers: Legacy Wars. The game has already racked up more than 27 million downloads since its launch earlier this year.

The studio also announced three new additions to its board of directors: Peter Levin from Lionsgate, Ridge Ventures MD Phil Sanderson and March Capital co-founder Gregory Milken.

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