British online gaming investor Velo Partners has announced that it has endowed Foxium with an unspecified amount of resources so that the games development studio may access the team and network of its RNG Foundry accelerator service.
London-based Velo Partners stated that Foxium has ‘a decade of gaming experience’ and has launched a ‘number of online titles’ including its Fruitz, Lost Riches of Amazon, Lucky Bakery, The Odd Forest and Big Time Journey games with ‘industry-leading operators’ such as LeoVegas, Bet365, Mr Green, Betsson, BetVictor and ComeOn.
For its part, RNG Foundry is a gaming accelerator that was premiered in association with Velo Partners. The service endeavors to foster entrepreneurial gaming industry talent by supplying a mixture of technical resources, equity investment capital and distribution opportunities.
Ashley Sandyford-Sykes, Programme Director for RNG Foundry, declared that Foxium, which has offices in Sweden and Estonia, has ‘all the ingredients for a successful games studio’ and that he is now looking forward to ‘building world-class casino games content for our distribution channels’.
“Foxium illustrates the ability for a dynamic [and] forward-thinking studio that responds to market needs,” stated Sandyford-Sykes.
Ake Andre, Chief Executive Officer for Foxium, explained that his firm has previously been approached by several investors but that these had ‘never felt right’. He proclaimed that Velo Partners and the RNG Foundry have ‘the same values, culture and vision as we do’ and that the investment will enable the developer to strengthen ‘in some critical areas’ such as distribution and speed to market.
“I have great respect for the team at Velo Partners and RNG Foundry,” stated Andre. “It will be a pleasure having them on board as we take Foxium to the next level.”