Bossa Studios—a London-based video game developer—has raised $30 Million in a funding round directed by Chinese gaming firm NetEase, three sources well-known with the situation said to CNBC. Bossa Studios is behind physics-based video games such as “I Am Bread” and “Surgeon Simulator.” The company secured between $10 Million–$30 Million during a Series B funding round in the summer. NetEase validated that it was an investor in Bossa but the details related to the value of the deal were not revealed. Bossa was established in 2010 and since then has been popular for its comedic games amongst gamers. Almost 6 Years later its release, Bossa’s most admired game “Surgeon Simulator” still adds more than 10 Million views per month on YouTube.
The company is very smaller in comparison to established players such as Electronic Arts, Activision Blizzard, and Ubisoft, but its latest deal with NetEase can help it to scale up and take on in one of the largest gaming markets around the world. Sources told CNBC that a key reason for the new fundraising effort will be to spur expansion into China. Bossa’s first funding round was a $10 Million investment managed by Atomico—a venture capital fund established by Skype co-founder Niklas Zennstrom. Before that, Bossa held seed funding from another gaming-themed financier, London Venture Partners. The new capital injection suggests that the company has raised $21.4 Million from its investors, as per to Crunchbase.
Similarly, NetEase stated that it has achieved ray tracing for the first time in a mobile game. The company lately demonstrated ray tracing in its iconic MMORPG game “Love is Justice” by using Huawei’s EMUI operating system and Kirin chip. Reportedly, ray tracing technology permits computer programs to imitate the light movement in virtual space, emulating the approach light would reflect off surfaces in a provided space and building a more photorealistic setting.