Moon Beast Productions recently announced they’ve raised $4.5 million in seed funding. This significant investment round was spearheaded by 1AM Gaming, with participation from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and several angel investors joining in as well.
The studio plans to channel these funds into the development of a unique action RPG that aims to shake up traditional design norms. Moon Beast’s focus on innovation could offer a fresh take on the genre enthusiasts have come to love.
Founded in March 2022 by Peter Hu and Phil Shenk—both veterans of the Diablo 2 team—Moon Beast welcomed another industry heavyweight, Diablo 2 co-creator Erich Schaefer, the following year as its Chief Creative Officer.
Reflecting on their success in securing funding, President and Co-founder Peter Hu commented, “In today’s tough funding landscape, we’re incredibly lucky to have backers who truly grasp our vision. We’re focused on working smarter by building reusable, data-driven systems, which enable us to iterate quickly and do more with fewer resources.”
Phil Shenk chimed in, emphasizing their ambition: “We’ve never been ones to simply follow trends. Throughout our careers, our goal has always been to push genre boundaries. From our early days with Diablo and Diablo 2 to later projects like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve constantly pushed to reshape what players anticipate from an ARPG.”
