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Toya raises $4m to fuel development on Roblox

Funding follows success of Miraculous Ladybug game, which has been played over 200 million times

Israeli games studio Toya has raised $4 million in a round of seed funding in order to further its presence on the Roblox platform.

The round was led by Drive by Draftkings, with participation from Remagine Ventures and Powerhouse Capital. Other contributors include 1Up Ventures, early Roblox investor Craig Sherman and NFL star Eli Manning.

Drive by Draftkings CEO and managing partner Meredith McPherron is also joining Emily Greer and Anat Shperling on Toya's board of directors.

Toya's biggest title, Miraculous RP: Quests of Ladybug & Cat Noir, has amassed over 200 million plays since its launch back in May. It's an adaptation of the French animated TV series Miraculous Ladybug.

The funding will be used to help Toya further develop its current roster of over 30 games, as well as fuelling hiring and partnerships strategies.

"The creator economy is booming, and great content is in high demand. Toya's ability to create breakaway hits helped us to attract a dream team of backers," said Shperling, Toya co-founder and CEO.

"With this new funding, we'll be able to accelerate our product development and go-to-market plans, giving Roblox gamers beautiful, fun and diverse gaming experiences."

McPherron added: "Toya has put together the best team in the market for metaverse content, and has been getting significant traction to its content.

"I'm incredibly excited about Toya's focus on the Roblox economy, which is growing to be a major content platform. The company's message of diversity and inclusion has allowed it to reach [30%] of girls in the US, with engagement metrics which eclipse other forms of media."

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