Moon Beast Productions recently secured $4.5 million in seed funding. Leading this investment round was 1AM Gaming, with contributions also coming from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and several angel investors.
This influx of cash is set to power the development of a groundbreaking action RPG. The studio aims to shake up the industry with a game that defies traditional design norms.
Founded in March 2022 by Peter Hu and Phil Shenk, both of whom are veterans from the Diablo 2 team, Moon Beast is geared for innovation. Adding more expertise to the team, Diablo 2’s co-creator, Erich Schaefer, joined the team as chief creative officer the following year.
“In today’s tough funding climate, we’re extremely lucky to have investors who really get what we’re trying to do,” said Peter Hu, president and co-founder. “Our strategy has always focused on efficiency. We are building flexible, data-driven systems that let us iterate faster and achieve more with less effort.”
Phil Shenk also shared his insights: “We’ve never been ones to just go along with the crowd. Throughout our careers, we’ve been driven to push the boundaries of genre definitions. We played a major role in creating ARPGs with Diablo and Diablo 2. Since then, whether with games like Hellgate: London, Torchlight, or Marvel Heroes Online, we’ve continually aimed to expand what players anticipate from this style of gaming.”
