Moon Beast Productions Secures $4.5 Million in Seed Funding

Moon Beast Productions has just wrapped up a $4.5 million seed funding round, marking a significant milestone for the company. This investment was spearheaded by 1AM Gaming, with participation also coming from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, as well as various angel investors.

The team at Moon Beast is excited to channel this financial boost into their latest venture: an action RPG that promises to break away from traditional design approaches. It’s clear that they’re aiming for something fresh and bold.

The studio got its start in March 2022, thanks to the efforts of Peter Hu and Phil Shenk, both veterans from the Diablo 2 development team. In a move that surely added to their credibility, Diablo 2 co-creator Erich Schaefer came on board as the chief creative officer the following year.

Reflecting on the successful funding, Hu, who also serves as the studio president, expressed gratitude, saying, “In today’s challenging funding environment, we’re incredibly fortunate to have investors who understand our vision.” He emphasized Moon Beast’s strategy: “Our approach has always been about working smarter, not just harder. We’re building reusable, data-driven systems that allow us to iterate rapidly and create more with less.”

Meanwhile, Shenk shared his enthusiasm, highlighting the studio’s ongoing mission to innovate: “We’ve never been content to follow the crowd. Throughout our careers, we’ve always pushed to redefine genres. We were there at the start, helping to invent ARPGs with Diablo and Diablo 2. In the years following, from Hellgate: London to Torchlight, and Marvel Heroes Online, we’ve consistently sought to expand what players expect from the genre.”

With their ambitions clearly set, it will be intriguing to see how Moon Beast Productions leverages this funding to push the boundaries of the action RPG genre.