Moon Beast Productions Secures $4.5M in Seed Funding

Moon Beast Productions recently announced that it has raised an impressive $4.5 million in seed funding. Heading the investment round was 1AM Gaming, with contributions coming from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, along with several angel investors lending their support.

The company plans to channel these funds into crafting a groundbreaking action RPG that aims to disrupt traditional design norms. Established in March 2022 by seasoned veterans from the Diablo 2 team, including Peter Hu and Phil Shenk, the studio gained further expertise with the addition of Diablo 2 co-creator Erich Schaefer, who joined as chief creative officer the following year.

Peter Hu, who serves as both president and co-founder, remarked on the successful funding round, “With the current funding challenges, finding investors who share and support our vision is something we’re truly grateful for.” He emphasized their strategic approach, saying, “We focus on working smarter by developing reusable, data-driven systems that facilitate rapid iteration, allowing us to achieve more with fewer resources.”

Phil Shenk added his perspective, highlighting their innovative ethos: “Rather than blending in, we’ve always aimed to stand out. Our careers have been dedicated to pushing boundaries and redefining genres. From being part of the Diablo and Diablo 2 founding team to developing titles like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve consistently strived to elevate player expectations in the genre.”