Today IQONIQ, a new fan engagement platform exclusively targeting the world of sports and entertainment, has announced it has entered into a €100 million capital funding agreement with the Luxembourg based investment corporation Lux Media Investments. The funds will be used to secure the company’s continuous development and global expansion.
News of the investment comes with IQONIQ, headquartered in Monaco and founded in 2019, having grown considerably over the past 6 months, despite the impact of COVID-19. During this period, the platform has added a host of new high-profile employees and Advisory Board members, as well as formalising partnerships with rights-holders such as Euroleague Basketball, Olympique de Marseille, AS Monaco, North Carolina FC and the Drone Champions League.
Lux Media Investments is a Luxembourg-based private investment company, headed by a group of investment bankers, media entrepreneurs, pioneers and industry leaders, former sports professionals – including former executives of Time Warner, Walt Disney, Sony, amongst others.
With modern social media platforms not specifically designed for fans, IQONIQ provides its users with an all-in-one solution for their needs, providing aggregated content from all other platforms, as well as unique features including in-app games, special star interactions, loyalty programmes, merchandising and ticketing discounts, and the option to support social responsibility initiatives – all leading to more personal, more rewarding and more purposeful fan experiences.
The funding marks a new chapter in the platform’s growth, with IQONIQ currently in advanced negotiations with more than 175 rights holders from the world of sports and entertainment, including major clubs from the big five European football divisions, as well as world-leading clubs and leagues in baseball, cricket, rugby and motorsport. The investment will be enabling IQONIQ to focus on global growth, activating new partnerships and fan experiences for fans across the world.
On the announcement, IQONIQ CEO Kazim Atilla said, “We are very pleased to have secured a financial partner with exceptional experience and know-how in the media industry for IQONIQ. The challenges that have come this year with the pandemic have in many ways reinforced and supported our vision to bring fans closer to their stars, no matter where they are in the world. With this new investment, we will be able to continue our growth alongside new partners and accelerate our plans to revolutionise the world of fan engagement.”
Piet Saarloos, President of the Lux Capital Corporation, added, “From our first conversations with IQONIQ’s leadership team in June 2019, it became clear that IQONIQ will become a real gamechanger in fan engagement, presenting unique opportunities for the sports and entertainment industries. With the experience of our Lux Media Investments team, we see great synergies between our expertise and theirs, and we look forward to helping IQONIQ take the next steps on this incredibly exciting journey.”
The IQONIQ platform is due to launch in September 2020.
Today Traplight, the Finnish mobile games studio focused on highly accessible mid-core games, announces the global launch of its new mobile gaming title Battle Legion alongside an €8 million funding round. Lead investor in the round is the EQT Ventures fund, with participation from Play Ventures and existing investors Initial Capital and Heartcore Capital. The funding will be used to double down on Battle Legion, which merges qualities from both mid-core and casual titles and has already secured high engagement metrics and a positive community response.
Traplight was founded in 2010 by Sami Kalliokoski, Jari Paananen and Riku Rakkola, who have more than 40 years of game development experience between them. Following the success of Big Bang Racing, which was named Best of AppStore 2016, Traplight’s 30-strong team has focused on the development of Battle Legion. The mass battle multiplayer spectator game has deep strategy elements and AI-controlled troops do all the fighting. Players can build their dream army from dozens of versatile fighters, customize everything and discover an expanding collection of skins, battlefields, portraits, banners and titles.
Lars Jörnow, Partner and Investment Advisor at EQT Ventures, said: “Many of today’s top-grossing mobile games have been produced by Nordic gaming studios and the Traplight team is set to continue this rich heritage. Industry veterans Sami, Jari and Riku are a strong founding team who have surrounded themselves with some top mobile gaming talent. The EQT Ventures team believes the Traplight team has the ambition and ability to build the next global gaming success story and we’re looking forward to supporting them on this journey.”
“We’ve learnt a huge amount in the past two years through active testing of different game ideas, building prototypes with small teams, and improving our production processes,” said Riku Rakkola, co-founder and CEO at Traplight. “We now have a game with huge potential and are proud to be partnering with EQT Ventures, Europe’s tier-1 mobile gaming investor. Lars and the team’s extensive mobile gaming experience will be invaluable as we set out to turn our vision of becoming one of the world’s chart-topping games into a reality.”