Ineffective Astronauts Secures €4 Million in Seed Funding Round
By Swedish developer plans to utilize funding to advance the development of the project titled Veil
Swedish studio Ineffective Astronauts has secured €4 million in a “strongly oversubscribed” seed funding round led by Peep Ventures.
The studio intends to utilize the funding to expand its core team and accelerate development on its open-world action-adventure title codenamed Veil, which is being developed using Unreal Engine 5.
This funding round saw participation from Sensible Capital, 1Up Ventures, and Acequia Capital.
Angel investors including Matt Bilbey, Are Mack Growen, Klaas Kersting, Asbjoern Malte Soendergaard, and Kristian Segerstråle also contributed.
“We are excited to have successfully completed our seed round and to realize our vision for Dead Astronauts as a next-generation game studio,” said co-founders Erik Morin and Tobias Nyman.
“While the current market presents distinct challenges, we recognize significant opportunities to innovate in open worlds and drive transformative change in gaming.”