Armada Interactive
Gaming startup that develops next gen core mobile games.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor investor investor investor investor investor investor | €0.0 | round | |
* | €6.1m | Seed | |
| Total Funding | 000k | ||
| EUR | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | 33 % | 355 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | (24873 %) | (4620 %) | (679 %) |
| Profit | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | (31920 %) | (6405 %) | (1345 %) |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Related Content
Armada Interactive, a Helsinki-based mobile gaming startup founded in 2015, aimed to redefine the core mobile gaming market with high-fidelity, competitive player-versus-player (PvP) experiences. The company was established by a team of seasoned industry veterans, including CEO Samuli Syvähuoko, a co-founder of Remedy Entertainment (known for Max Payne), and other key personnel with experience from Crytek, BioWare, and Seriously. Syvähuoko's extensive entrepreneurial journey in the Finnish games industry, having founded multiple studios like Remedy, Fathammer, and Recoil Games, provided a strong foundation for Armada's ambitious vision.
The company's strategy focused on creating games with console-level 3D graphics and deep, synchronous PvP gameplay, targeting both mid-core and core gamers, a segment they felt was underserved on mobile. This approach attracted significant investor interest, enabling Armada to secure a total of $10 million in seed funding over two rounds. The first round in April 2016 raised $3 million, led by Initial Capital, while the second, led by Korea Investment Partners in February 2017, added another $7 million, reflecting a strategy to target both Western and Asian markets.
Armada's flagship and only known product was "Quantum Siege," a free-to-play real-time strategy game. Its standout feature was an innovative 360-degree rotating battlefield, designed to offer unique tactical depth. The game involved players collecting heroes, building armies, and fighting in both single-player campaigns and real-time multiplayer battles to free the world from alien antagonists. Despite a promising concept and extensive testing during a soft launch in May 2017, "Quantum Siege" failed to meet the company's performance expectations. After numerous updates, including a complete UI overhaul, the decision was made to cancel the game in April 2018. Following the shutdown of its primary project, Armada reportedly pivoted to developing competitive match-3 games, but the company ultimately filed for bankruptcy and closed in August 2019.
Keywords: mobile gaming, real-time strategy, PvP, game development, Helsinki startup, seed funding, Quantum Siege, Samuli Syvähuoko, free-to-play, game studio closure