venture capital Archives

AppWizard

May 9, 2026

GTA 6’s multi-billion-dollar budget is ‘a high-stakes game for big boys only,’ Take-Two boss says, but he’s ‘cool with it’

Take-Two CEO Strauss Zelnick discussed the pressures surrounding the release of Rockstar's upcoming project, GTA 6, highlighting the significant financial commitment involved. He noted that development costs have increased and the influence of AI has not yet reduced these expenses. Zelnick identified Xbox and PlayStation as the core audience for Rockstar, explaining the decision to delay the PC launch. Analysts estimate the budget for GTA 6 to be between billion and .5 billion, with some suggesting it could reach as high as .4 billion when considering preproduction costs. Projections indicate that Take-Two could break even within a month of the game's release, with expected revenue of .6 billion within the first 60 days.

AppWizard

February 20, 2026

XCOM designer Jake Solomon announces surprise closure of his studio alongside a first look at its canceled life sim, ‘the game we poured our hearts into’

Jake Solomon, founder of Midsummer Studios, announced the studio's closure and shared a gameplay video of "Burbank," a life simulation game. The game aimed to empower players as storytellers and was described as a blend of "Life Sims + The Truman Show." Despite receiving an 88% review score and being a Game of the Year runner-up for "Midnight Suns," the studio struggled with sales. Midsummer Studios had secured funding from various venture capital partners and Krafton but was seeking additional funding rounds. The gameplay footage of Burbank featured a polished aesthetic, with plans to use generative AI for character voices while ensuring visual art was created by human artists.

AppWizard

January 6, 2026

AGI Inc.’s Android app can use your phone for you

AGI, Inc. has a valuation of 0 million and is developing AI assistants that mimic human interaction with devices. At CES 2026, the company showcased its Android app, currently in private beta, which allows users to delegate tasks across various apps using voice or text commands. The app is powered by custom AI models developed through reinforcement learning and utilizes accessibility features to navigate and execute tasks on smartphones. AGI, Inc. aims to transition to a fully local model within six months and is collaborating with Qualcomm and Samsung. The company has received million in funding from venture capital firms and has 30,000 individuals on its app's waitlist.

Tech Optimizer

August 21, 2025

Inside Quick Heal’s Journey: Building India’s First Antivirus to a Global Brand

Quick Heal Technologies was founded by brothers Kailash and Sanjay Katkar in Pune, focusing on antivirus solutions to combat rising computer viruses. It became India's first homegrown antivirus and is now a globally recognized company. Despite India's digital economy expanding, only 7% of organizations are mature in cybersecurity readiness, facing challenges such as a skills deficit, fragmented security implementations, and a disconnect between executive priorities and security realities. India needs over 800,000 cybersecurity professionals, and educational institutions must integrate practical threat scenarios into their curricula. The "Make in India" movement is fostering indigenous cybersecurity solutions that address local threats while being globally relevant. Quick Heal utilizes AI to enhance threat detection and response, analyzing vast amounts of data while emphasizing the irreplaceable role of human expertise in strategic decision-making. Emerging threats include AI-powered social engineering, supply chain attacks, and cloud misconfigurations. Organizations should adopt Zero Trust architectures, invest in continuous security training, and utilize integrated threat intelligence. Quick Heal's leadership emphasizes solving real problems for customers and encourages young engineers to gain practical experience in cybersecurity. Recommended strategies for CISOs include aligning security investments with business priorities, embracing automation, and establishing integrated threat intelligence for effective risk management.

AppWizard

July 21, 2025

The Chinese Room completes management buyout

The Chinese Room has transitioned to independence following a management buyout (MBO) and has severed ties with Sumo Digital, facilitated by venture capital firm Hiro Capital. The studio has undergone restructuring, resulting in layoffs, and currently employs 55 developers. Studio director Ed Daly confirmed that several roles were made redundant during this process. The studio is focusing on developing original intellectual properties as well as working with partner IPs, including projects like Still Wakes the Deep and Vampire: The Masquerade – Bloodlines 2. Additionally, John McCormack has been promoted to studio creative director, and Ross Manton has been promoted to production director.

AppWizard

July 1, 2025

Behold Ventures has raised $59.2m

Swedish venture capital firm Behold Ventures has raised SEK 550 million (approximately .2 million) to invest in European gaming companies. Since its inception in 2021, the firm has allocated million across 18 companies. Of the raised capital, 54% came from Europe, 44% from Asia, and 2% from North America. Behold Ventures aims to invest in game studios as well as technology, tools, and infrastructure supporting the gaming ecosystem, with a focus on companies targeting a younger audience. Managing partner Karl Magnus Troedsson noted that younger developers often require less funding and can achieve significant results.