South Korean publisher Krafton and other investors have sunk $15 million into UK studio Red Rover Interactive to accelerate development on its debut project codenamed ‘Coltrane.’
The investment comes less than a year after Red Rover broke cover and means the studio has raised around $20 million to date. Tirta Ventures, Overwolf, The Games Fund, Behold Ventures, GEM Capital, Lifelike Capital and Acequia Capital all joined Krafton in the Series A funding round.
Commenting on the news, Red Rover CEO Fred Richardson said the company’s rapid progress is a result of its commitment to “validation driven development,” which has seen the studio loop in its community from the get-go.
“[This approach] has been a cornerstone of our development philosophy, ensuring we really focus on the most impactful things to our playerbase over everything else,” he added.
Krafton’s VP and head of corporate development, Maria Park, said investing in Red Rover was about “championing the right people crafting the right game.”
“Their commitment to player-centric, iterative development resonates strongly with PUBG’s ethos, emphasizing player feedback and iterative design. We have had the privilege of witnessing their immersive development approach firsthand during weekly playtests with players and streamers,” she added.
“The remarkable progress demonstrated in each updated build has been a testament to their passion and expertise. Also, drawing from Fred’s experience, the team has ingeniously tackled common challenges in the sandbox survival genre. We’re thrilled to partner with Red Rover and support the team’s vision for Project Coltrane.”
Funding will “fuel” development efforts
Red Rover says Project Coltrane will deliver a “uniquely fast paced and replayable PVP experience” set in a post-apocalyptic train world.
The studio said the investment round marks a “significant” milestone on the road to realizing its vision and will enable it to make new hires and solidify its market presence.
“We’re extremely excited to be working with Krafton given their unmatched pedigree in the PVP space. Having them, alongside our other fantastic investors and partners onboard, is incredibly validating for the entire team at Red Rover,” added studio boss Fred Richardson.
“This support not only fuels our development efforts but also reinforces our belief in Project Coltrane’s potential to resonate with gamers globally.”