Moon Beast Productions Secures $4.5M in Seed Funding

Moon Beast Productions has recently landed a significant $4.5 million in seed funding. This investment was spearheaded by 1AM Gaming, with additional contributions from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and some angel investors as well.

According to the studio, this financial boost will be directed towards crafting a groundbreaking action RPG that aims to shake up traditional design approaches. Founded in March 2022 by Peter Hu and Phil Shenk, both esteemed veterans from the Diablo 2 team, Moon Beast saw a strategic addition in the following year with Diablo 2 co-creator Erich Schaefer stepping in as the chief creative officer.

Co-founder and president, Peter Hu, expressed gratitude, “In this tough funding climate, it’s a huge advantage to have backers who grasp the essence of our vision. Our focus is always about innovation – not merely working harder, but smarter. We are developing versatile, data-driven systems that empower us to iterate with agility and accomplish more with fewer resources.”

Phil Shenk chimed in, reflecting on their creative philosophy, “We’ve never been ones to simply go with the flow. Throughout our journeys in the gaming world, we’ve continuously strived to reinvent genres. From pioneering the ARPG experience with Diablo and Diablo 2, to our contributions in Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve consistently aimed to broaden the horizons of what players can anticipate from the genre.”