Wavedash Games secures $6m in Series A funding
Finance will be used to hire new talent and finish Smash Bros-style eSports title
A studio founded by former Riot, EA and Blizzard developers has completed a crucial round of funding to the tune of $6m.
Wavedash Games, based in California, raised this money through Series A funding. The investment was led by March Capital Partners, with six other venture capital firms also contributing.
The firm has said it plans to use the $6m to increase its headcount and continue development of its new 'platform fighter' game - a beat-'em-up that focuses on knocking opponents out of the arena (gameplay akin to Super Smash Bros) rather than wearing down Street Fighter-style health meters.
Wavedash has taken inspiration from Smash Bros' growing success as an eSport and the rise of former employer Riot, aiming to establish its new title as an eSports hit. By doing so, it hopes to also position 'platform fighter' as a popular eSports genre, alongside MOBAs and shooters like Counter-Strike: GO.
Their first title, which has yet to be announced, will be free-to-play, and follow the League of Legends business model in selling customisation options while also rolling out new characters and stages over time. The game is in development for PC and will support online multiplayer as well as "extensive controller support". Wavedash plans to announced the game this summer.
"The platform fighter community is one of the most vibrant in gaming," CEO Matt Fairchild said in a statement. "But it has yet to reach its full potential. We're following the trail blazed by Riot Games and Valve by bringing community passion together with world class developer talent."