Radical Forge, the Middlesbrough-based games studio, has raised £2.6 million from NPIF II – Mercia Equity Finance, which is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II).
The NPIF II funding will enable the company to expand its team with the creation of 15 jobs, take on new and bigger contracts and launch its own game, Southfield, early next year.
Established in 2017 by two Teesside University computer games graduates, Bruce Slater and Freddie Babord, Radical Forge now employs around 70 people.
The company has worked with some of the top names in the industry and contributed to games including Gang Beasts, Sea of Thieves, Golf With Your Friends and Zombie Army 4.
It also produces its own games and has recently established a publishing division. Its first launch, the murder mystery puzzle Bright Paw, was published in 2020 and won the title of Best Puzzle Game at the prestigious NYX game awards.
The latest release, Southfield, is a farming game set on a fantasy island where players can grow crops, experiment with machinery and build their own homestead.
The £660 million Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Radical Forge CEO Bruce Slate said: “Freddie and I are beyond happy to have secured this funding for Radical Forge. It will enable us to realise our ambitions for every team member and continue to build the studio while preserving the culture that is so important to us.”
Radical Forge is the second Middlesbrough studio to receive funding from Mercia. SockMonkey Studios secured investment from the Northern Powerhouse Investment Fund in 2020 and was acquired by Canada’s largest games publisher, Behaviour Interactive, three years later.
Chris McCourt of Mercia Ventures said: “Radical Forge are a talented team with a vibrant culture that has helped them attract and retain skilled developers.
“We believe the current environment holds real opportunities for the business. With many of the big players in the industry downsizing their teams, they have the chance to attract top talent, expand their skills base and win larger and more complex projects.
“The NPIF II funding will enable them to pursue their expansion strategy and provide a further boost for Middlesbrough’s growing games industry.”
Mick Morris and Jonny Sharp of Leeds-based games specialists Cerelo Advisory provided fundraising advice to Radical Forge.
NPIF II – Mercia Equity Finance can provide equity investments in the NPIF II area with a primary focus on the Yorkshire and Humber regions of Kingston upon Hull and East Riding of Yorkshire, North Yorkshire, South Yorkshire and West Yorkshire.