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Finnish smartphone dev Grey Area raises $2.5 million

Index Ventures, London Venture Partners and Initial Capital all contribute

Helsinki developer Grey Area, which specialises in location-based smartphone titles, has raised $2.5 million in series A funding from Index Ventures, London Venture Partners and Initial Capital.

Currently, the developer's flagship game, Shadow Cities, is only available in Finland, but is planned for worldwide release soon. Within days of release there, the free-to-play app topped the country's highest grossing app table.

"The iPhone has already emerged as an immensely popular gaming platform," said Ville Vesterinen, Grey Area CEO. "However, we feel there is an entirely new category of games that can be built for today's smart phones. Our goal with Shadow Cities was to make the creative and technical leaps needed to make this a reality."

Grey Area is also looking to open a US office to facilitate the world wide launch of Shadow Cities in the near future.

London venture Partners was set up as a technology and game-specific investment fund by ex-Atari CEO David Gardner, Phil Harrison, Unity chairman David Lau-Kee and MD of Avista Partners Paul Heydon.

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