Hot Wheels game creator Hutch secures $5.5m
Hutch, a video games developer, has raised $5.5m in a round co-led by Index Ventures and Backed VC.
Founded in 2011, the Silicon Roundabout-based firm, which is mostly known for the success of its recently-launched Hot Wheels game, creates gaming apps for iOS and Android devices.
Shaun Rutland, CEO of Hutch, commented: “We founded Hutch on a long term vision that racing on mobile devices had enormous category potential. We’re now firing on all-cylinders, with incredible talent, technology and IP.
“This investment is testimony to that and will allow us to accelerate our ambitions, whilst also creating a company with strong values and a culture that empowers our people to create leading-edge mobile games,” he added.
Hutch also announced that its Hot Wheels: Race Off game has attracted over 14 million players since its launch just before Christmas.
Rutland continued: “We are delighted to have found partners that share our vision in Index Ventures and Backed VC, and we look forward to working together.”
The firm, which also has offices in Brighton, raised a Seed round led by Initial Capital back in 2014.
Alex Brunicki of Backed VC said: “What really sets Hutch apart in our eyes is their unrivalled expertise in motorsports, an area of huge potential in mobile that is yet to be won, and their incredible company culture, which was as important a factor to us as their capabilities on the game development side.
“The culture that Shaun and the team have cultivated over the past few years is unique and an amazing draw for the best talent in London,” he concluded.