KEK Entertainment

KEK Entertainment is a Russian game developer founded by former Pixonic top managers Georgy Egorov and Oleg Poroshin. 

History

2023: Raising $8 million during seed round of investments

At the end of November 2023, video game developer KEK Entertainment, created by former Pixonic top managers - Russians Georgy Egorov and Oleg Poroshin, announced a sowing round of funding. The company raised $8 million for development in addition to the $3 million received earlier.

The investment program was led by Korea Investment Partners, a South Korean venture capital fund. In addition, the funds were provided by Woori Technology Investment Co. and Kona Venture Partners, as well as current investors - The Games Fund and Play Ventures. The money will be used to develop the future game KEK Entertainment - a cross-platform action game.

Concept art of one of the games in the development of KEK Entertainment

KEK Entertainment is developing a system that will unite gamers on mobile devices, personal computers and game consoles. The concept is claimed to create a unified gameplay experience across different hardware platforms and bridge the gap between individual gaming communities. The money received will help KEK Entertainment improve game mechanics, expand server infrastructure and improve user interfaces. The ultimate goal is to form a robust and scalable multi-user ecosystem. The company notes that by attracting new investors, it has secured support at all key markets - in the United States, Europe and Asia, which will help develop the business on a global scale.

KEK Entertainment's vision aligns with the changing landscape of the gaming industry. We believe that a well-designed cross-platform game can resonate across different gaming communities. We are pleased to support the company in implementing this project, "says Michael K. Lee, Director of Korea Investment Partners.[1]

2021: Raising $3 million in investments

On November 1, 2021, an investment of $3 million in KEK Entertainment was announced. The Games Fund and Play Ventures funds have invested in a gaming studio located in Moscow  as part of a pre-seed round. How much investors valued the startup is not reported.

The KEK Entertainment team intends to spend the funds received on the development of its first game - a mobile competitive action game with "deep" tactical elements. Also, part of the money will go to increase the number of developers.

Russian mobile game developer KEK Entertainment raised $3 million

Our goal is to assemble a team of top specialists, use all the experience and knowledge gained to give players the best experience on the market. To do this, we teamed up with The Games Fund and Play Ventures. In them, we see not only investors, but also like-minded people who really understand the market. It will be a legendary adventure, - said the CEO of KEK Entertainment Georgy Egorov, who until the summer of 2021 headed the game developer Pixonic.

Pixonic's annual revenue reached $500 million, making the company one of the largest in the gaming market in Europe. Oleg Poroshin worked in it as an operating director and quit at the same time as Egorov.

We had a lot of fun working at Pixonic, we achieved amazing results. We are grateful to our team and My.Games for all the experience and support, "says Egorov, commenting on the departure from Pixonic and the creation of KEK Entertainment. - Now we are ready to launch our own company in the most exciting and fastest growing entertainment niche - competitive multiplayer games.

According to him, The Games Fund and Play Ventures are friendly to the founders of startups, they understand video games from the position of developers.^[2]

Notes