Moon Beast Productions has successfully raised $4.5 million in seed funding, marking a significant milestone for the company. This funding round saw notable participation from 1AM Gaming leading the way, with strong support from 1UP Ventures, The Mini Fund, Overwolf, and Versus Ventures, alongside various angel investors.
The studio is channeling this investment into crafting a groundbreaking action RPG that aims to upend traditional design concepts. Moon Beast came into existence in March 2022, thanks to the efforts of Peter Hu and Phil Shenk, both of whom played pivotal roles in the creation of Diablo 2. The studio bolstered its leadership in the subsequent year by bringing on board Erich Schaefer, a Diablo 2 co-creator, as the chief creative officer.
“We feel extremely fortunate to have backers who truly grasp our vision, especially in this tough economic climate,” said Peter Hu, president and co-founder. “Our strategy has always centered around innovation—creating adaptable, data-driven systems that enable us to be more efficient and versatile.”
Phil Shenk shared his excitement, adding, “We’ve never settled for just following trends. Throughout our careers, we’ve continuously strived to redefine genre boundaries. From our early days with Diablo and Diablo 2 to our work on projects like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve always aimed to enrich and expand player experiences in the ARPG genre.”
