EQT Ventures leads $41m round for Small Giant Games

Other participants in the round included existing investors Creandum, Spintop Ventures and ProFounders Capital.

With the fresh capital, the company intends to expand its presence internationally, grow its team of developers and graphic designers, and further develop its Empires & Puzzles game. 

EQT held a €566m final close for its debut venture vehicle, EQT Venture Fund, in March 2016. The vehicle invests in funding rounds from early-stage to later-stage across Europe, and has backed startups such as Germany's Riskmethods and Holidu, Wolt in Finland, Min Doktor in Sweden and UK-based Oden Technologies.

Company
Founded in 2016 and based in Helsinki, Small Giant Games is a mobile games developer. Its first game, Empires & Puzzles, launched globally on Android and iOS in March 2017 and has been downloaded 10 million times. The game generated $33m in revenues in the first 10 months after the launch, according to the company.

The company raised a $6.5m seed round in 2017 and employs a staff of 25.

People
EQT Ventures – Lars Jörnow (partner).
Small Giant Games – Timo Soininen (CEO).

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