Moon Beast Productions recently announced that they’ve raised an impressive $4.5 million in seed funding. This financial boost comes from a round led by 1AM Gaming, with additional support from 1UP Ventures, The Mini Fund, Overwolf, and Versus Ventures, along with some angel investors.
The studio plans to channel these funds into crafting a fresh and groundbreaking action RPG. They’re aiming to shake things up in the gaming world by challenging traditional game design norms.
Launched in March 2022, Moon Beast was founded by Peter Hu and Phil Shenk—both of whom are seasoned veterans from the Diablo 2 team. Erich Schaefer, a co-creator of Diablo 2, joined their ranks the following year as their Chief Creative Officer.
“In a period where securing funding is tough, we’re incredibly thankful to have investors who truly grasp what we’re trying to achieve,” shared president and co-founder Hu. “Our strategy has always focused on working smarter, not solely harder. We’re developing reusable, data-driven systems that allow us to innovate quickly and produce more with fewer resources.”
Phil Shenk added, “We’ve never been ones to just follow the pack. Throughout our careers, we’ve pushed the boundaries to reshape genres. From our early days with Diablo and Diablo 2 to later projects like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve consistently aimed to elevate player expectations in the ARPG genre.”
