inXile Entertainment Secures $4.5M Investment from gumi VR Inc.
Investment is for Equity in inXile Entertainment and for the Development of Unannounced Open World Survival RPG Virtual Reality Game
inXile Entertainment, the studio behind some of today’s most revered RPGs, such as 2014 Game of the Year Wasteland 2, 2017 Develop Awards nominee Torment: Tides of Numenera, and the #1 selling The Mage’s Tale, a virtual reality dungeon crawler for Oculus Rift and Touch, secured a combined investment of $4.5M for equity and project investment from gumi VR Inc., a subsidiary of global entertainment publisher and developer gumi Inc. inXile Entertainment, currently in development on The Bard’s Tale IV and Wasteland 3, will use the funding for an unannounced open world survival RPG VR game with plans to launch on all platforms. In addition to the investment, gumi Inc. CEO Hironao Kunimitsu also joins inXile Entertainment’s board.
“Gumi shares my passion for creating deeper virtual reality games and I’m fortunate to have a partner to work with in this spectacular new medium. We’ve had incredible feedback from our first game, The Mage’s Tale, and we want to continue to build on our experience and reputation. I’ve always been fascinated by the social dynamics of the open world survival genre and experiencing that in virtual reality will create powerful and terrifying moments. We’ll also be bringing our storytelling and RPG experience to the table to help enrich the genre,” said Brian Fargo, CEO, inXile Entertainment.
“Brian is a legend in the games industry, and inXile Entertainment has a track record for creating ground-breaking PC and console games that feel AAA in scope and size using their creativity, ingenuity, and ambition. Over the past year, they’ve brought in very talented and experienced members as they shift their strategy from single player to multiplayer online games as a service, and we look forward to seeing how they approach the space,” said Kunimitsu. “Since breaking into VR, we believe they’ve already delivered the best VR RPG game to date with The Mage’s Tale. We’re honored to become a strategic investor and partner with inXile, and delighted for the opportunity to work together on the next VR title with such a masterfully skilled team.”
Founded by Brian Fargo in 2002, inXile Entertainment focuses on crowdfunded titles, foregoing the traditional publishing route to control the creation process. Before inXile, Fargo was the founder of Interplay, a historically important developer and publisher, which launched many of the most critically lauded and popular video game franchises of all-time, including Fallout, Wasteland, The Bard’s Tale, Baldur’s Gate, and Planescape: Torment, and fostered amazing talent that led to such companies as Blizzard Entertainment, Obsidian, and BioWare.
gumi Inc. announced its expansion into virtual reality and augmented reality in early 2016 with the launch of its incubation program focused on the Japanese VR market, Tokyo VR Startups (TVS), in addition to a significant investment in The Venture Reality Fund, which is focused on funding early stage VR and AR companies primarily based in the U.S.
# # #
About inXile Entertainment
InXile Entertainment is a premiere videogame development studio with locations in Newport Beach, CA and New Orleans, LA, and is behind leading titles including Wasteland 2, Torment: Tides of Numenera, The Bard’s Tale IV, and Wasteland 3. The Mage’s Tale marks inXile’s entrance into the exciting world of VR. Headed by Brian Fargo, inXile Entertainment is home to both industry veterans and up-and-coming talent, and is at the cutting edge of innovation in delivering high-quality titles to their passionate and dedicated fan base.
About gumi Inc.
Founded in 2007, gumi Inc. (Tokyo Stock Exchange: 3903) is a leading global mobile game publisher and developer headquartered in Japan, with overseas operations in China, France, Korea, Singapore, Taiwan and the United States. The company has proven success in launching titles worldwide, such as the widely popular role-playing games Brave Frontier and Phantom of the Kill. With ongoing publishing and development projects on various platforms, including iOS, Android, and more, gumi aims to change the world through innovative entertainment products and services, including both original content and collaborations with popular IP. For more information, please visit http://www.gu3.co.jp/en/home-en/.
White & Case LLP is serving as legal advisor to gumi Inc., and Stradling Yocca Carlson & Rauth, P.C. is serving as legal advisor to inXile Entertainment.
Source: Gumi Inc