Neon Giant

Neon Giant

A group of game veterans with a past in some of the world’s biggest action game franchises.

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DateInvestorsAmountRound
-investor investor

€0.0

round
investor

€0.0

round
*

N/A

Acquisition
Total Funding000k

Financials

Estimates*

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Revenues, earnings & profits over time
EUR201820192020202120222023
Revenues000000000000000000000000
% growth----(20 %)18 %
EBITDA000000000000000000000000
% EBITDA margin---62 %54 %-
Profit000000000000000000000000
% profit margin---25 %9 %(7 %)
EV000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget000000000000000000000000

Source: Company filings or news article

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Neon Giant AB is a Swedish video game development studio founded in April 2018 by a team of seasoned industry veterans: Tor Frick, Arcade Berg, Jonathan Heckley, and Erik Gloersen. The founders leveraged their extensive collective experience from working on major AAA franchises like "Wolfenstein," "Doom," "Bulletstorm," and "Gears of War" to establish a studio focused on creating high-quality action games with a small, agile team. Their journey began in Uppsala, Sweden, with an initial seed investment of approximately $110,000 from Amplifier Game Invest and a subsequent Unreal Dev Grant from Epic Games, which supported the development of their first title.

The studio's business model centers on the development and sale of premium video games for PC and console platforms. Their revenue is generated through direct game sales and platform deals, such as inclusion in subscription services like Xbox Game Pass. The company's first major project, "The Ascent," is a solo and co-op action-shooter RPG set in a detailed cyberpunk world called Veles. Released on July 29, 2021, the game puts players in the role of a worker in a corporate-run metropolis after the collapse of the mega-corporation that owns everything. "The Ascent" was noted for its frenetic twin-stick shooter combat, deep world-building, and visually impressive environments, all created by a core team of just 11 people. The game achieved significant commercial success, generating over $5 million in revenue during its launch weekend and selling over one million copies by March 2023.

This early success led to the acquisition of Neon Giant by South Korean publisher Krafton, the company behind "PUBG: Battlegrounds," in a deal announced in November 2022. Operating as an independent subsidiary, Neon Giant has stated that the acquisition provides the resources to pursue more ambitious projects while maintaining its creative identity and studio culture. The company is currently developing its next game, an open-world, first-person shooter set in a new cyberpunk universe, aiming to build upon the world-building DNA of "The Ascent."

Keywords: Neon Giant, The Ascent, Krafton, Arcade Berg, Tor Frick, video game developer, action RPG, cyberpunk games, indie game studio, Uppsala Sweden, Unreal Engine, twin-stick shooter, console gaming, PC gaming, world-building, first-person shooter, Project Impact, Amplifier Game Invest, Curve Games, co-op shooter, dystopian games, sci-fi RPG, Veles, game development

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