Israel-based startup Edge Gaming has raised $10m (~£7.55m) in its round of seed funding.
The seed funding was led by mobile gaming company Playtika and includes participation by existing investors, Stardom Ventures and AnD Ventures.
According to the release, the funds will be used to continue the expansion of its new ‘Playables’ project which will debut with popular AAA games.
Playables are custom mini-games that are reproduced from existing gameplay moments (for example, ‘clutch’ situations).
The platform leverages a patent-pending deep tech engine to enable a seamless ‘select and create’ process to produce Playables. This is expected to resemble the flow of making short-form videos on platforms like TikTok and Instagram.
Asaf Gazit, Co-founder and CEO of Edge Gaming, commented: “With ‘Playables’, game developers can focus on perfecting the graphics and physics of their games while players themselves will be empowered to determine how the games are played and interacted with on their own terms.
“This round is a vote of confidence in that new vision for gaming and the value it brings to developers and gamers alike. We look forward to continuing on our mission to put gamers in the driver’s seat.”
With its latest round, Edge Gaming will ramp up hiring and continue to develop its platform, which is currently in closed beta. The start-up also detailed to Esports Insider that the closed beta already includes ‘a few esports organisations and competitive players’, with the aim being to gradually add more.
The company also aims to enhance its Playables no-code engine and its capabilities, which will first come to popular AAA titles and later expand to a wider range of titles.
In addition, Edge Gaming will move ahead with exploring blockchain integrations to support play-to-earn and NFT mechanisms.
Raz Friedman, CPO of Playtika, added: “Edge ‘Playables’ format is the key to unlocking the full potential of social connection between gamers by offering countless new gameplay scenarios that further engage and enable gamers to enhance their skills.
“It’s going to change gaming as we know it, and we’re excited to support Edge with our vast expertise and knowledge in the gaming ecosystem, and through this investment gain a meaningful reach into the Esports and creator economy worlds.”
Esports Insider says: The funding raised in Edge Gaming’s pre-seed and seed rounds will make a huge difference as it develops the Edge Academy, as well as its new Playables project. Edge Gaming looks to offer an interesting take on the distribution of esports content and it’ll be exciting to see the end result.