Mobile games studio Traplight raises €8 million

Traplight, the Finnish mobile game studio focused on highly accessible mid-core games, has closed 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.

Traplight was founded by Sami Kalliokoski, Jari Paananen and Riku Rakkola, who have more than 40 years of game development experience between them.

“Gaming is one of the world’s most explosive industries, worth around $120.1 billion in 2019 and mobile gaming accounts for more than half this figure,” said Lars Jörnow, Partner and Investment Advisor at EQT Ventures.

“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.”