Eutechnyx secures investment of £6 million
Update: Developer to use cash for free-to-play racing MMO featuring licensed brands
Independent developer Eutechnyx has secured a £6 million investment led by Amsterdam-based venture capital firm Prime Technology Ventures.
The cash injection will help to finalise the development of a new racing title at Eutechnyx, as well as enable the company to develop its forthcoming free-to-play infrastructure for an expansion into casual online games.
"When we saw what Eutechnyx was working on, we knew we had to be involved, particularly given Eutechnyx's track record, design heritage and jaw-dropping technology," said Monish Suri, general partner at Prime Technology Ventures,
"We only invest in the best, so we're incredibly excited to be able to play a role in the creation of projects that will drive the future of videogames."
"We're thrilled to have secured this investment headed up by Europe's most successful technology VC," added Brian Jobling, CEO of Eutechnyx.
"As an independent developer, this infusion will help us to continue to forge our own destiny within a rapidly changing games industry. Not only does the investment enable us to continue to innovate, we can continue to do so on our own terms."
Eutechnyx was founded in 1987 by brothers Brian and Darren Jobling and now has studios in Hong Kong, Chengdu and Pittsburgh employing over 160 people.
Update: In an interview with Gamasutra, Eutechnyx's US boss Todd Eckert has revealed the part of the investment will be used for a massively multiplayer online racing game called Auto Club Revolution, a title built around driving and car culture.
The game is to be built in collaboration between Eutechnyx and the vehicle brands that will appear in the game, and will use a free-to-play model with microtransactions.