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Portalone Raises $60M As It Gears Up To Launch Of Its Hybrid, Immersive Gaming Platform Later This Year

Portalone Raises $60M As It Gears Up To Launch Of Its Hybrid, Immersive Gaming Platform Later This Year

01/27/22, 8:03 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/NO.svgoslo
Money raised
$60 million
Industry
software
Gaming has been one of the most popular entertainment categories in the last two years of pandemic living. Now, a gaming startup that’s building a new kind of platform that it thinks will be a — wait for it — game changer in the category is announcing some funding as to ride that wave of attention.

Company Info

Company
Portal One
Location
oslo, oslo, norway
Additional Info
Now, a gaming startup that’s building a new kind of platform that it thinks will be a — wait for it — game changer in the category is announcing some funding as to ride that wave of attention. The startup — based in Oslo but with a significant presence also in Los Angeles — plans to use the funding to continue building out its platform and operations en route to its first commercial launch: PortalOne Arcade, a journey into a retro “arcade” featuring multiple games. PortalOne Arcade has been running in a closed beta since last year, and the company is running a sign-up list for those interested to try it out, but what the team has built and its plans for the future are enough to be attracting some very big names. Tiger Global is leading this round, a Series A, with Scooter Braun’s TQ Ventures, Temasek, Avenir Growth, Founders Fund, Talis Capital, Connect Ventures, Animoca Brands, Access industries, and Coatue Management also participating, along with “a number of high-profile angel investors”, the company said. Bård Anders Kasin, PortalOne’s CEO who co-founded the startup with his brother Stig Olav, said in an interview that the company plans to release PortalOne Arcade sometime later this year, but in closed beta the startup has now produced some 200 shows. Meanwhile, a more established, but still very young (it launched last year), startup called Dream Games, has now reached a paper valuation of $2.75 billion after its round, which also was announced earlier this month. Bard tells me that the startup has been talking to a pretty wide range of companies in the gaming and social ecosystems — from those operating platforms, through to console giants and those publishing content, and companies building tech to make it all happen.