Moon Beast Productions has successfully raised $4.5 million in seed funding. This investment round was spearheaded by 1AM Gaming, with participation from 1UP Ventures, The Mini Fund, Overwolf, and Versus Ventures, alongside several angel investors. The funds are earmarked for the development of a groundbreaking action RPG that aims to break away from traditional design norms.
Moon Beast, established in March 2022, was founded by Peter Hu and Phil Shenk, both former members of the Diablo 2 team. The studio welcomed Diablo 2 co-creator Erich Schaefer as its chief creative officer the following year.
“In the current tough funding climate, we’re incredibly grateful to have investors who resonate with our vision,” said Peter Hu, the president and co-founder. “Our focus has always been on efficiency and innovation. We’re committed to crafting reusable, data-driven systems that enable us to quickly iterate and achieve more with fewer resources.”
Phil Shenk shared, “Conformity has never been our style. Throughout our careers, we’ve consistently strived to reshape genres. We were there from the beginning, playing a part in crafting the ARPG landscape with Diablo and Diablo 2. Since then, from Hellgate: London to Torchlight, and Marvel Heroes Online, we’ve continuously challenged the boundaries of what players anticipate from the genre.”
