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Gaming publishing house 110 Industries works as a production center: it comes up with a story, script and character images, and then hires developers. The company emphasizes single games of the premium segment for consoles and streaming game services. The company attracts funding for the production of each game and is responsible for its promotion strategy. At the same time, the startup itself does not create a game.
History
2021: Raising $10 million
In 2021, the gaming company 110 Industries, founded by Russians Sergey Kolobashkin and Anton Poletaev, held two rounds of financing with a total volume of $10 million. In one of these investment transactions for $4 million, the president of the Lanit group Philip Gens participated. This became known in mid-February 2022.
According to Forbes, a representative of 110 Industries, the startup will spend the attracted investments on project development (in particular, on the creation and publication of Vengeance is Mine and Red Goes Faster games) and will not go into the company's capital.
At the same time, 110 Industries reported that in 2022 the founders changed their strategy: now money is attracted mainly to the parent company and the practice of project financing (in separate games) is gradually ending.
 | We begin to attract investment only after we have fully worked out the concept of the product: characters are ready, dialogues, calculation of the cost of production. One stage takes up to a year, "said co-founder of 110 Industries Sergey Kolobashkin. |  |
Since launch, the company has not created a single finished product. By mid-February 2022, she has eight games in development, a representative of 110 Industries explained to the publication. In 2021, at one of the largest game exhibitions, Tokyo Game Show, the startup presented trailers of three of its projects - Wanted: Dead, Vengeance is Mine and Red Goes Faster. The first of them 110 Industries wants to release at the end of 2022. According to a company representative, the development of the game was carried out by the Japanese studio Soleil, whose parent company at the end of 2021 was acquired by one of the Chinese giants Tencent.
The 110 Industries team has 19 people, the main producer of the project is Kelly Zmak. Previously, he was in leadership positions at Hasbro, Panasonic, Activision Blizzard and Radical Entertainment.[1]
2020: Raising $20 million from Abramovich and other investors
On August 14, 2020, 110 Industries announced the attraction of investments in the amount of $20 million. Roman Abram's investment company Norma Investment, GEM Capital and film producer Sergey Kornikhin invested in the game publishing house. Shares of investors are not called.
The founder of 110 Industries, Anton Poletaev, in a conversation with Vedomosti, said that the bulk of the funds received would go not to capital, but to the development of specific games. Kornikhin said that the main investments will be used to create the first game in exchange for part of the rights.
According to Poletaev, earlier the company raised $3 million from the founders, then another $1.1 million from private investors. The publishing house is preparing to release the first game "Wanted: dead" in 2022, the budget is not disclosed. The manufacturer is a famous Japanese game studio, whose name is also not specified.
Kornikhin and GEM Capital representative Roman Gursky confirmed to Vedomosti that they had studied the contract with this studio and talked with its employees.
The publication notes that the deal with 110 Industries was one of the first known investments of Roman Abramovich in the gaming industry. Norma Investment is one of Abramovich's investment companies, through it, in particular, he invested in a blockchain project. Pavel Durov TON
GEM Capital representative Roman Gursky noted to Vedomosti that 110 Industries is a completely new company, and it is certainly important for an investor to see at least some results when choosing a project for investments. The decisive factor for the GEM Capital partnership with 110 Industries was the same contract with a "very famous" Japanese studio, he said.[2]
Notes
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